Providing digital financial solutions to MSMEs: A path to economic growth

Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard, Shehryar Ali. [Courtesy]

By Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard

Kenyan MSMEs are fundamental to the nation's economy employing over 14.9 million people and contributing to 40% of the country's GDP. On a continental scale, according to the World Economic Forum, MSMEs contribute to more than 80% of Africa's employment and 50% of its GDP. Addressing the unique challenges faced by these businesses can lead to their robust growth, benefiting not only Kenya but Africa as a whole.