Taasi Till Loans, the latest financial product for Kenya’s micro, small, and medium-sized enterprises (MSMEs), is now available to till-holding merchants nationwide.
The loan product is a result of a collaborative partnership between Safaricom and Diamond Trust Bank (DTB) and aims to unlock convenient and fast credit for businesses operating on Lipa na M-Pesa tills.
In this scheme, entrepreneurs can borrow up to KSh250,000, which can be repaid within 14 days, offering working capital to small business owners to continue running businesses and seize opportunities.
George Otiende Direct, Director, Retail Banking at Diamond Trust Bank (left), Murali Natarajan Managing Director and CEO at DTB interacts with an SME during
official launch of Taasi, a credit product by Safaricom’s M-PESA at Safaricom Headquarters in Nairobi.
“DTB is keen to do its bit towards the unlocking of the MSME growth in the country. We are looking to extend a much-needed credit line to these small and medium businesses, which have a tendency to need immediate and short-term credit as the lifeblood of their business operations on a day-to-day basis,” DTB Managing Director and CEO Murali Natarajan stated.
The rollout follows a pilot stage that has seen over 23,000 Lipa na M-Pesa business merchants tap into the facility, with over KSh135 million worth of loans disbursed averaging KSh17,500 per individual. The statistics highlight the need for accessible, short-term credit in Kenya’s vibrant SME environment.
Safaricom PLC CEO Dr. Peter Ndegwa underscored the vision behind the collaboration:
“Businesses play a pivotal role in Kenya’s economy and make a significant impact in our communities. Leveraging the power of technology Taasi, will offer convenience and access to credit for MSMEs, allowing them to focus on scaling their businesses,” said Dr. Peter Ndegwa, Group CEO, Safaricom PLC.
The Taasi Till Loans product, therefore, serves not just for convenience but also serves DTB’s strategic ambition of contributing to economic growth through the provision of tailor-made banking solutions to excluded markets.
“At DTB, our goal is to drive development and economic growth by making our services easily accessible to MSMEs across the country,” Natarajan added. “We’ve achieved this by expanding our branch network, enhancing our digital platforms, and now, through this partnership with Safaricom, by offering a targeted solution to the financing challenges MSMEs face.”
In taking this bold step, DTB and Safaricom once again demonstrate their shared commitment to Kenya’s entrepreneurial development pillar offering affordable technology-driven support where it’s needed most.
