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Home Startups Tala launches Ksh 605 million fund to support Kenyans in the COVID-19 crisis

Tala launches Ksh 605 million fund to support Kenyans in the COVID-19 crisis

by Val Lukhanyu
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 Tala has today announced a  Ksh 605Million COVID-19 fund to boost Kenyan businesses and communities during the ongoing Coronavirus pandemic.

Most people have closed or if not struggling to make ends meet with businesses almost crippling down due to lack of clientele. Tala plans to help them grow through additional funding and partnerships. The fund will prioritize existing Tala customers as well as Tala businesses that provide essential services to their communities.

Tala joins other companies in supporting the country in dealing with this crisis. Banks and some of the Telcos have also waived transaction fees to reduce the burden on Kenyans.

“We believe small businesses are the backbone of the Kenyan economy. Businesses, and business owners, who provide essential goods and services to their broader communities will help Kenyans survive this crisis. And will be on the front lines leading efforts to rebuild,” said Ivan Mbowa, General Manager, Tala Kenya.

“We want to give those businesses the ability to get a head start in helping communities recover and rebound. That’s why we are offering select business owners 0% fee Community Support Loans with extended tenures,” said Mr Mbowa.

Eligible customers will be invited to apply for the Fund’s first new product at a  0% fee, 6-month Community Support Loan of Ksh. 30,000. the loan will support businesses that are helping Kenyans recover and rebuild. Especially those businesses offering essential services such as food, water, health & medical services, critical household supplies, education, and logistics related to these services.

“By investing in entrepreneurs and small businesses we can multiply our impact. We believe that supporting small businesses is the best way to contribute to reviving communities and local economies. But this is just the beginning for the Rebuild Fund. We are constantly evaluating additional ways to support customers and their communities by providing timely tools and assistance,” He added.

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