Audio By Vocalize
Kenya’s small and medium enterprises (SMEs) are looking to the year ahead with confidence, with 66% optimistic about their business outlook and 70% expecting their revenue to grow over the next 12 months. A Mastercard study shows that Kenyan SMEs are drawing on their position as early adopters of mobile money to stay agile and keep growing through a period of economic change.
The Mastercard SME Confidence Index is a multi-market study that captures the sentiment, priorities and growth outlook of SMEs across Eastern Europe, the Middle East and Africa.
Kenya has long been a frontrunner in mobile money, and that leadership is clear in the findings. Almost all SMEs (95%) now accept mobile payments, which make up 41% of all transaction volume and outpace both card (29%) and online (39%) acceptance. This deep digital fluency is giving businesses the flexibility to adapt quickly and serve their customers wherever they choose to pay.
“Kenyan SMEs are some of the most digitally fluent on the continent, and their optimism reflects a wider story unfolding across Africa. Businesses here are showing the rest of the region what is possible when entrepreneurs embrace digital tools and build on them with ambition. As they look to scale, our role is to help them turn that momentum into lasting growth, through the right payment solutions, insights and access to finance,” said Gabriel Swanepoel, division president, Africa, Mastercard.
