NAIROBI, Kenya, Jan 24 – Digital lender, Tala, has increased its loan limit amount from Sh30,000 to Sh50,000 as customer demand increases.
According to the firm, the increase stems from its MoneyMarch2022 Report in which customers wished for higher loan limits with 78 per cent of borrowers taking loans to pay for business expenses, add stock, or fund their side hustles.
“We are a consumer-first company and fulfilling our customers’ most relevant needs sits at the heart of our decision-making during product improvements and development of new services,” said Annestella Mumbi, Director for Growth at Tala.
Tala said that its customers are drawn to its flexible repayment options and fast-growing loan limits amid high inflation and concerns over the increasing cost of credit from traditional financial institutions.
“With the increased limits, we hope that parents can now quickly access a sizable school fees loan and get their child settled in class on time, small traders can pull through stock equaling demand and breadwinners can manage to put food on the table each day,” Mumbi said.
