Kenyan startup Tala has launched a Sh605 million rebuild fund to help Kenyans cope with the Covid-19 crisis. The fund will prioritize existing Tala customers as well as Tala businesses that provide essential services to their communities.
“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,” General Manager Ivan Mbowa said.
Here Is All You Need To Know
- Eligible customers will be invited to apply for the fund’s first new product, a 0% fee, six-month Community Support and a loan of Sh30,000, designed to support businesses that are helping Kenyans recover and rebuild.
- In a statement on Friday, Mbowa said Tala wants to give Kenyan businesses the ability to get a head start in helping communities to recover.
“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,” he said.
- He urged all Tala customers who run a business that is providing essential support to their community to apply for a Community Support Loan.
Tala will be prioritizing loans for businesses that provide the necessities a community needs to cope with a crisis, such as food, water, health and medical services, critical household supplies, education, and logistics related to these services.
“By investing in entrepreneurs and small businesses we can multiply our impact, and we believe supporting small businesses is the best way to contribute to reviving communities and locale economies,” Mbowa said.
“We continue standing with Kenyans and our customers, believing that we will overcome and emerge out of this crisis tested but ultimately more resilient.”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.
He could be contacted at udohrapulu@gmail.com