9 out of 10 Small and medium-sized enterprises (SMEs) in Kenya in the country use M-Pesa, the mobile money service offered by the country’s largest telco Safaricom according to a new report.
The survey conducted by Amethyst Consultants on SME perceptions of banking products in Kenya was released at SNDBX’s “Big Baraza” virtual SME conference in Kenya, the first SME conference organized by SME Entrepreneurs in the country.
Conducted between the months of March and April 2021, the survey which included 131 small to medium enterprises (SMEs) across 17 “key sectors” concluded that SMEs continue to be resilient through the pandemic season and a third [of SMEs] are looking forward to a better future.
According to the report, the majority of Kenyan SMEs prefer to use Facebook and its business products for their simplicity and ease of access.
“The government plays a leading role in stimulating growth in the SME sector through incentives that attract investment, doing business with SMEs, offering SMEs market exposure through government-sponsored expos, capacity building, as well as through research and development funding to help stimulate growth and the improvement of infrastructure to promote business access,” Ministry of ICT, Innovation and Youth Affairs Chief Administrative Secretary Maureen Mbaka said.
The survey was sponsored by Facebook and Jubilee Health Insurance with over 30 exhibitors, SNDBX experts, and partners such as Nation Media Group.
