In Kenya, MSME sector is a hotbed of entrepreneurial activities employing over 90 percent of the working population, contributing to about 34 percent of the country’s national output, and over 30 percent of the Gross Value Added. Yet, due to a lack of structural support, credit access, and formal integration, these enterprises remain tragically undervalued.
This systemic neglect mirrors the ancient wisdom that 'a pig does not appreciate the value of a pearl.' By failing to recognise the high-yielding potential of small businesses, policymakers act as the short-sighted custodian who overlooks a priceless asset simply because it is buried in the mud of the informal economy." Yet globally, MSMEs are celebrated as the crown jewels of economic transformation.
Kenya has demonstrated leadership in the FinTech space in Sub-Saharan Africa region kickstarted strongly by the enthusiasm around mobile money usage.
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Kenya’s MSME growth problem
