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Without giving any explanation, Mobile based lending Company Tala has announced that it has shut down its operations in Tanzania.

The company on Tuesday urged its customers with outstanding loans and balances to repay them and it will give more details later.

‘’We regret to inform you that Tala is currently not offering loans in Tanzania. We appreciate the opportunity to serve you, and we wish our loyal customers continued success in your financial journeys,’’ Read a statement issued by the lending firm.

Tala has been providing quick cash loans to approved borrowers especially to the self-employed and no collateral is required for the loans.

Tala currently operates in Mexico, Kenya, Philippines and India and has attracted over 27 Million people in the world.

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