Safaricom PLC (NSE: SCOM) has launched the fourth series of its ‘Grow with Safaricom Business’ platform, focusing on micro, small, and medium enterprises (MSMEs) in the Coast region. This initiative is designed to guide entrepreneurs in leveraging digital technology to scale their businesses, enhance market reach, streamline operations, and build a robust online presence.
The ‘Grow with Safaricom Business’ forum, held today, provided MSMEs with insights into how digital tools can address their challenges and foster growth. It also served as a platform for exchanging ideas and strategies on adopting technology for business advancement.
The Kenya Institute of Public Policy, Research, and Analysis highlights the significance of MSMEs in Kenya’s economy, noting that they number over 7.4 million and employ around 14.9 million people, contributing 30 percent to the GDP. Despite their vital role, these businesses often face hurdles such as limited knowledge, skill gaps, and rapid technological advancements that impede their growth.
Cynthia Kropac, Chief Enterprise Business Officer at Safaricom, emphasized the transformative power of technology: “Despite the significant contribution MSMEs make to the economy, they continue to face considerable challenges. At Safaricom, we believe in the power of technology and its potential to transform businesses, which is why we are hosting the Grow with Safaricom Business to empower MSMEs.”
The digitalization of the global economy underscores the importance of this initiative. It is projected that 70 percent of new value created over the next decade will come from digitally enabled platform business models.
Since its launch in March 2024, the Grow with Safaricom Business forum has been instrumental in providing MSMEs with valuable networking opportunities, connecting them with industry experts, peers, and potential business partners.
Safaricom’s continued efforts in supporting digital transformation for MSMEs reflect its commitment to boosting competitiveness and driving economic prosperity in Kenya.