Steve Oke Chapchap Market
May 31, 2019
Tala (Formerly Mkopo Rahisi)
Tala which was previously known as Mkopo Rahisi is one of the oldies in the quick money lender business.
Mkopo Rahisi was launched in 2014 and was later rebranded as Tala. It requires one to have the App downloaded onto their smartphone from the Google Play store. The app should then be linked to the borrower’s Facebook account after which one answers several personal questions.
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A good Mpesa record is considered before one can qualify for a loan and one should therefore not delete their Mpesa messages. The money loaned is sent to your Mpesa account. The minimum one can borrow from Tala is 500 shillings and the maximum is 50,000 shillings at an interest rate of 15 percent.
Tala loans are paid back in weekly installments for 3 weeks through Mpesa PayBill number 851900.