A digital lending platform that provides loans to individuals in emerging markets, operating primarily through mobile technology.
Kenya court says restructuring alone cannot justify layoffs, raising startup risks
The Employment and Labour Relations Court ruled that employers must prove genuine operational changes to justify layoffs. Nokia Solutions and Networks Kenya was ordered to pay KES 9.8 million to a former employee for an unfair redundancy.
Kenyan SME lender 4G Capital says 92% of borrowers repay on time as bad loans rise
4G Capital reports a 92% on-time repayment rate among its customers. The Central Bank of Kenya reported a gross non-performing loan ratio of 15.5% in February.
Tala lays off 28 staff as loan defaults and customer queries fall
Tala laid off 28 employees from its customer operations team due to reduced workload. The layoffs were attributed to fewer loan defaults and a drop in customer support queries.
Fintech in Africa Gains Global Recognition: Nala, Carry1st, and Tala Featured in Forbes Fintech 50
Tala has empowered millions in Kenya with its consumer credit app, leading to its expansion into India and the Philippines. Nala has raised $50 million in funding and is facilitating cross-border payments from the U.S. and Europe to Africa.
How Can Artificial Intelligence Transform Financial Services?
50% of leaders in the banking, financial services, and insurance sector see AI as a game changer. 67% of leaders in the sector have already invested in generative AI for use cases such as customer service chatbots.
