Tala, a fintech company specialising in mobile-based lending and financial services, has announced its expansion into Tanzania and Uganda as it deepens its footprint across East Africa. The company, which already operates in Kenya and has raised over $350 million from investors including Revolution Growth, IVP, and the International Finance Corporation, sees both markets as high-growth opportunities.

In Tanzania, an estimated 60 percent of the adult population remains unbanked, presenting a substantial addressable market for digital financial services. Tala plans to leverage the country's established mobile money infrastructure — including M-Pesa and Tigo Pesa — by partnering with local mobile money providers and telecommunications companies to reach customers.

Through its app, users can access small loans, build credit histories, and access financial products without needing a traditional bank account. The expansion supports Tala's goal of serving 100 million customers globally.

Tanzania's fintech landscape has been attracting growing interest from international players, supported by the Bank of Tanzania's regulatory frameworks for digital lending and the rapid adoption of mobile money. The entry of a well-capitalised player like Tala adds competitive pressure but also promises to accelerate financial inclusion in a market where mobile money accounts have already doubled to 76 million.