This archive report was first published on 17 September 2019.
On September 17, 2019, mobile money lender Tala abruptly shut down its operations in Tanzania, leaving customers in the dark about the reasons behind the sudden move.
According to a statement shared on social media by Tala Tanzania, the company regretfully informed its customers that it was no longer offering loans in the country.
Customers with pending loans in Tanzania are still required to clear their debts, and the company has provided a paybill number for them to do so.
Although the company appreciates the opportunity to have served its customers in Tanzania, it has chosen not to disclose the reasons behind the closure, citing 'legal reasons.'
Tala operates in several other countries, including Kenya, Mexico, India, and the Philippines.
As reported by The Citizen, a Tanzanian newspaper, the company is expected to issue a statement later explaining the reason behind the closure.
