Nairobi — Credit disbursed by Tala, a digital credit company, in Kenya has reached Sh300 billion, ten years after entering the country.

In the 2023 Tala Impact Report, which was released today, the fintech disburses about Sh10 billion and Sh15 billion in the country each month, serving 8 million customers.

Globally, the report adds that Tala serves more than 9 million customers, with Sh750 billion already disbursed in the Philippines, Mexico, and India. In Kenya, its customer base is 3.5 million.

"Moving into the next decade, we will be moving to a second phase of the industry, thinking beyond access and into the ability of the industry and Tala to offer more customer-centric solutions," Annstella Mumbi, General Manager of Tala Kenya, said.

"With our in-depth understanding of the mass market customer, and our data science capabilities, we are increasing our focus on partnerships and being an ecosystem enabler. We are not your competitor but your enabler in opening up access to credit," she added.

Tala also announced plans to reach a $10 trillion global fintech market with the goal of serving 52 percent of the world's population.

In the second phase of its operations, Tala will target populations excluded from the financial institutions.

"Located primarily in emerging markets, they earn money in both the formal and informal economies but often don't have access to savings, credit, bill payment tools or the ability to affordably transfer money," Jori Pearsall, Global Chief Business Officer at Tala, said this during the company's 10th anniversary in Nairobi.

"The Global Majority have immense potential, and we've witnessed their power. Tala proves that the old barriers can be overcome with innovative solutions, creativity, and radical trust."