Why Tala Loans will miss out on CBK Digital lending licencing
Tala Loans with CBK list wrangles

Tala made a comment explaining why it wasn't on the list of 10 digital lenders licensed by the Central Bank of Kenya to function in Kenya.

Tala's comment comes after the CBK revealed a list of ten digital credit firms it approved to start operations after the six-month application process expired.

Tala made a statement explaining why it wasn't on the list of 10 digital lenders licensed by the Central Bank of Kenya to operate in Kenya.

Tala issued a statement to calm the anxieties of its consumers, employees, and other stakeholders following Monday's CBK announcement.

CBK where Tala Loans applied for DLA licence

Following the Central Bank of Kenya's (CBK) statement this morning, Tala has received questions about why it is not among the ten applications licensed as Digital Credit Providers (DCP) as of 17 September 2022.

Tala Loans told its users that lenders' submissions are assessed in receipt order.

Tala Loans statement

The CBK received 288 applications between 18 March 2022 and 17 September 2022, according to a press release dated 19 September 2022. Each application is being reviewed in order of receipt, according to the statement.

The mobile lender told consumers and workers that it filed its registration to CBK before the 17 September 2022 deadline and that it was being considered.

" Tala submitted its application for the required license before the CBK's deadline of 17 September 2022, and we're working with the CBK on our application. The CBK (Digital Credit Providers) Regulations, 2022. Tala will continue to issue digital credit pending CBK licensing," stated.

Tala's comment comes after CBK revealed a list of 10 digital lenders it permitted to operate in Kenya after mobile lenders' six-month application deadline expired.

Tala said the CBK will share details of licensed DCPs weekly until the process is done.

However, sources claim that some digital lenders will need to review it's rates with evidence from consumers before cbk gives the licence. 

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