This archive report was first published on 17 September 2019.
On September 17, 2019, digital lender Tala announced its exit from the Tanzanian market, citing a statement on their Twitter account.
With over 27 million customers globally, Tala operates in several countries, including Kenya, India, Mexico, and the Philippines.
Notably, the company has focused on providing fast, personalized loans to self-employed individuals, with over 78 percent of its loans allocated for business expansion across East Africa.
Tala has promised to issue a statement in the near future to explain the reasons behind its business shutdown in Tanzania.
