Safaricom has unveiled a fresh commitment to support micro, small, and medium-sized enterprises (MSMEs) in Kenya, with a big push to drive its contribution to national GDP beyond eight per cent.
Micro-enterprises, which employ fewer than 10 people, account for the bulk of Kenya’s 7.4 million MSMEs but face daunting challenges, with nearly 400,000 failing to reach their second year due to high costs, weak infrastructure and lack of market access.
Yet collectively, MSMEs are the bedrock of the economy, contributing about 40% of GDP and employing around 80% of the workforce.
Franklin Okata, Safaricom’s acting chief enterprise business officer, told a media immersion in Nairobi yesterday that SME’s are the real movers of Kenya’s growing economy.
“That is why it is very important for us at Safaricom to invest in supporting small and medium-sized businesses. That is where we are giving a lot of our focus,” he said.
Okata added that for every large thriving company today, a few years ago it was a medium enterprise, and before that a small holding from humble beginnings, playing a big part in the growth of the Kenyan economy.
“It is not that we are ignoring large enterprises, they remain important. Many began as just ideas. That is why our energy is on helping the small ones overcome their challenges,” he stated.
This latest push to uplift SMEs builds on Safaricom’s long track record of empowering small businesses. The Grow with Safaricom Business Forum, launched in March 2024, has already engaged over 1 120 businesses across the Rift Valley, Coast, Nairobi, Western and Mount Kenya regions.
Earlier initiatives such as Lipa na M-Pesa and Pochi la Biashara gave micro-entrepreneurs access to digital payments, credit and savings tools, boosting both resilience and formalisation.
Okata highlighted that these interventions have ripple effects beyond individual businesses. “By helping MSMEs grow, Safaricom is indirectly creating jobs, driving innovation, and strengthening value chains that power the broader economy,” he said.
He stressed that the telco’s efforts come as M-Pesa cements its place at the centre of Kenya’s digital economy, handling transactions worth US$275.8 billion (KSh 38.3 trillion) in the year to March 2025.
“With expanded services and growing adoption, Safaricom’s ecosystem is poised to help more micro businesses scale sustainably, turning today’s hustles into tomorrow’s industry leaders,” stated Okata.
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