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Africa’s credit market is fast evolving as fintech continues to be front and center. CNBC Africa spoke to Annstella Mumbi, General Manager of Tala on what trends are shaping the regional credit market and why AI and machine learning are likely to be disruptive.
Wed, 15 May 2024 10:36:31 GMT
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AI Generated Summary
- The current trends in the African credit market are shaped by fintech, with a focus on artificial intelligence and machine learning.
- Tala has observed positive signals of a recovering economy in Kenya, including improvements in conversion rates and inflation rates.
- Tala's strategic focus for the next decade includes expanding access to financial services and entering new markets in Africa, while leveraging technology like AI and machine learning.
Africa’s credit market is fast evolving as fintech takes center stage in shaping the regional credit market. Annstella Mumbi, the General Manager of Tala, sheds light on the current trends in the credit market and the potential disruptions that artificial intelligence and machine learning could bring. In a recent interview on CNBC Africa, Mumbi discussed the challenges and opportunities in the industry, emphasizing the signals of a recovering economy that are starting to emerge. She highlighted the improvements Tala has seen in conversion rates and inflation rates in Kenya, indicating a positive shift in the economic landscape. Despite the challenges faced, Tala has maintained a stable business environment, with high repayment rates and a focus on profitability. Looking ahead, Mumbi shared Tala’s strategic direction for the next decade, which includes expanding access to financial services and venturing into new markets within Africa.
