Tala sets aside grant to help Kenya’s MSME enterprises rebuild post-covid

Tala sets aside grant to help Kenya’s MSME enterprises rebuild post-covid

Tala has set aside a Ksh.1Million grant meant to help micro, small and medium sized enterprises that were adversely affected by the covid-19 induced economic fallout to get back on their feet.

Kenyan MSMEs are facing unprecedented income loss, high cost of doing business and uncertainties about their future due to disruptions from the covid-19 pandemic.

“We understand the pivotal role that MSMEs play to oil the wheels of our economy. They, however, remain disproportionately underfunded and with no financial assistance in most cases. Today more than ever, we are keen to provide these enterprises with a boost to help them get back what they have lost during this and the past year,” said Mr. Ivan Mbowa, Managing Director at Tala.

Mr. Mbowa added that Tala is committed to walk the talk with small business owners and help them achieve their business goals through offering subsequent business skills training as part of the support to the businesses that will be part of the grant program, in addition to the grant funding.

“The future belongs to MSMEs and we need to help them position themselves for success as we hopefully begin to see an upward economic trajectory,” concluded the Fintech boss.

The digital credit provider has continued to offer support to customers in this period. This initiative is a follow on the COVID-19 Rebuild Fund Initiative launched last year that saw the lender offer 0% interest loans to over 180 businesses offering essential services.

This is in addition to offering free financial coaching for all Tala customers in a bid to reduce the debt burden and help Kenyans survive and thrive through the economic crunch currently facing the country.

Tala will officially launch the grant in October this year.

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