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Kenyan Fintech joins UN global compact

Radio Maisha fans search for a hidden coupon at Lions Garden in Nakuru City during the Radio Maisha Saka Chapaa Campaign on June 24,2023. [File, Standard]

Mobile lending firm Tala has become the first Kenyan financial technology company to join the UN Global Compact, a global initiative promoting ethical business practices.

Tala says it is committed to aligning its operations with the Compact’s ten principles, covering human rights, labour standards, environmental responsibility, and anti-corruption.

The UN Global Compact, launched in 2000, encourages businesses worldwide to adopt sustainable and socially responsible policies.

Tala joins over 24,000 companies globally, including more than 300 in Kenya, that have aligned their strategies with the Compact's principles.

"Tala is uniquely positioned to set a benchmark in ethical and responsible business," said Judy Njino, Executive Director of Global Compact Kenya. She challenged Tala to "be a force for good" and contribute to the UN's Sustainable Development Goals (SDGs).

Annstella Mumbi, Tala's General Manager, said the company is proud to be the first Kenyan Fintech to join the initiative. "We commit to continue to strive to democratize access to credit for the Global Majority, more so for MSMEs and Women," Mumbi added.

Tala, founded in Kenya a decade ago, operates across East Africa, Latin America, and Southern Asia, serving 10 million customers globally, including 3.5 million in Kenya.

The company has facilitated over Sh300 billion in loans in Kenya, demonstrating the growing role of digital lending.

Tala says it aims to expand its services to underserved populations, contributing to financial inclusion and the achievement of the SDGs.