Home Business news Tala launches Ksh605 million rebuild fund to cushion Kenyans against Covid-19 crisis

Tala launches Ksh605 million rebuild fund to cushion Kenyans against Covid-19 crisis

Tala has established a Ksh605 million rebuild fund to help cushion Kenyans amid the Coronavirus pandemic.

The Covid-19 rebuild fund will prioritize existing Tala businesses as well as customers that offer essential services to various communities.

Those eligible will be asked to apply for the fund’s first new product at zero percent fee, loan of Ksh30,000, and six month Community Support, to support businesses that are aiding Kenyans to recover and rebuild.

Tala General Manager Ivan Mbowa said that businesses, as well as business owners providing essential services and goods to their communities, would help Kenyans to survive the crisis and would take the front line to rebuild and recover from the crisis.

Mbowa said on Friday that Tala wants to give the businesses a boost to help communities 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,” Mbowa said.

He further appealed to all Tala customers operating businesses that provide essential services to their communities to apply for a Community Support Loan.

Tala would prioritize loans for businesses providing necessities that communities need to cope with the epidemic, for instance, water, food, education, critical household supplies, health and medical services, and logistics relating to these services.

Mbowa said that investing in small businesses and entrepreneurs will help Tala multiply its impact and that it was the best way to contribute to revitalizing local economies and communities.

“We continue standing with Kenyans and our customers, believing that we will overcome and emerge out of this crisis tested but ultimately more resilient,” he added.

The Health Cabinet Secretary Mutahi Kagwe on Thursday confirmed two new death cases, which brings the total number of Covid-19 deaths to three. He also confirmed 29 new cases making a total of 110 positive cases confirmed in Kenya.

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