Mobile Lender Tala Exits Tanzanian Market

Online lending company Tala has left Tanzanian Market over unknown reasons.

In a statement, the company said that it would give explanation later over the development.

“We regret to inform you that Tala is no longer offering loans in Tanzania,” read the statement in part.

Customers with pending loans in Tanzania will still be required to clear the debts.

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“We appreciate the opportunity to serve you, and wish our loyal customers continued success in your financial journeys. You can use the following paybill number to pay outstanding balances,” said the company.

Tala, which currently operates in Kenya, Mexico, India and Philippines, provides fast personalised loans to approved borrowers mainly self-employed as no collateral is required, attracting over 27 million people around the globe.

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