Global financial technology company Tala has joined the United Nations Global Compact, the world’s largest corporate sustainability initiative. This move aligns Tala with a global network of over 24,000 leading firms committed to responsible business practices, including 300 companies in Kenya. By joining, Tala pledges to integrate the Ten Principles of the UN Global Compact, focusing on human rights, labor standards, environmental responsibility, and anti-corruption into its business operations.
Annstella Mumbi, Tala’s General Manager, expressed pride in the company’s milestone, noting that Tala is the first fintech firm in Kenya to participate in the initiative. “We commit to continue striving to democratize access to credit for the global majority, especially for Micro, Small, and Medium Enterprises (MSMEs) and women, thereby enhancing financial inclusion efforts worldwide,” Mumbi stated.
The UN Global Compact encourages companies to adopt sustainable and socially responsible policies while reporting on their implementation. By joining the initiative, Tala positions itself among firms dedicated to sustainable economic growth, particularly in regions where access to credit remains a challenge.
Global Compact Kenya Executive Director Judy Njino lauded Tala’s move, emphasizing the potential impact of digital lenders in advancing the Sustainable Development Goals (SDGs). She highlighted that through innovative technology and data-driven solutions, fintech firms like Tala can address systemic barriers to financial inclusion in Kenya and across Africa.
“Tala is uniquely positioned to set a benchmark in ethical and responsible business,” Njino remarked. “I challenge the company to strive to be a force for good by making a tangible difference in the country.”
Tala’s commitment comes at a crucial time, as global progress on the SDGs has stalled, with only 17% of the goals currently on track. By participating in the UN Global Compact, Tala aims to accelerate progress by expanding access to credit for underserved communities, helping individuals and businesses manage financial risks, build assets, and break the cycle of poverty.
With its expertise in digital lending, Tala has already provided financial solutions to millions worldwide. This latest commitment reinforces its dedication to responsible business practices and financial inclusion, demonstrating how technology can drive sustainable development.
As more companies join the UN Global Compact, the collective efforts of businesses, governments, and organizations will be instrumental in meeting the SDGs and creating a more inclusive and sustainable global economy.
