This archive report was first published on 17 September 2019.
On September 17, 2019, Tala, a US-based mobile-based online lending firm, announced plans to shut down operations in Tanzania.
The company, which operates in Kenya, Mexico, India, and the Philippines, provides fast, personalized loans to approved borrowers, mainly self-employed individuals, without requiring collateral.
According to a statement issued by Tala, the company 'regret[s] to inform you that Tala is currently not offering loans in Tanzania.' The statement also urged customers with outstanding balances to repay their loans.
Tala's decision to shut down operations in Tanzania has left many customers wondering about the future of the company's services in the country.
