Before dawn breaks over Nairobi’s Eastlands, 32-year-old Faith Njeri is already arranging fresh vegetables, household essentials, and snacks at her neighbourhood kiosk. Like many small business owners, every shilling she earns matters, making transaction charges an unwelcome drain on her already thin profit margins.
For years, the single mother of two watched bank transfer and mobile money charges slowly chip away at the money she needed to restock her business.
“Those transfer fees to suppliers or when receiving mobile money payments used to frustrate me so much,” she says. “Even small amounts added up. What I thought was profit would disappear before I could reinvest it into stock.”
Faith says her fortunes changed after opening an I&M Bank Solo Biz account through the bank’s OTG mobile app under the Ni Sare Kabisa campaign, which offers eligible customers free transfers from I&M accounts to M-PESA and Airtel Money.
The account was opened within minutes using her national identification card, KRA PIN, and business registration certificate. Since then, she says, every shilling she transfers remains available for her business instead of being spent on transaction fees.
“That money I used to lose on charges now helps me buy extra tomatoes or even pay for electricity tokens at home,” she says with a smile.
Faith’s experience mirrors that of many micro and small business owners across Kenya, where informal enterprises play a critical role in supporting families and driving economic activity.
Women entrepreneurs, particularly those operating kiosks, vegetable stalls, and small retail shops, often rely on frequent digital transactions to pay suppliers and receive customer payments.
According to I&M Bank, extending the Nisare Kabisa preposition to Solo Biz customers is intended to help entrepreneurs reduce operating costs and encourage better financial management by separating business and personal finances.
The Solo Biz account also offers additional benefits, including unsecured business loans of up to KSh5 million, stock financing, LPO and invoice financing, zero monthly maintenance fees and no minimum balance requirements.
For Faith, the savings have translated into greater confidence in running her business. She says she can now restock more frequently, pay suppliers on time, and set aside money for her children’s school expenses without worrying about transactions
“Before, I would delay paying suppliers because of the charges. Now I move money freely and plan my business with confidence,” she says.
As Kenya continues to embrace digital financial services, initiatives that reduce everyday banking costs are proving significant for small entrepreneurs.
For traders like Faith, eliminating transaction fees is not simply about saving money; it is about protecting hard-earned income, strengthening small businesses, and creating room for growth in an increasingly challenging economic environment.
