Safaricom is urging the Micro, Small, and Medium Enterprises (MSMEs) to embrace digital transformation to enhance their competitiveness and foster business growth. This call to action comes as part of the company's ongoing ‘Grow with Safaricom Business’ initiative, a platform aimed at promoting the digitalization of enterprises across the country.

The fourth installment of the series, held in the Coast region this week, provided entrepreneurs with vital knowledge on how to leverage technology to scale their businesses.

The forum, which attracted MSMEs from various sectors, focused on educating business owners about the opportunities digital technology offers, including expanding market reach, streamlining operations, and building a strong online brand presence.

Through panel discussions and knowledge-sharing sessions, participants exchanged ideas on how to tap into the power of technology to unlock growth and navigate the increasingly digital global economy.

According to the Kenya Institute of Public Policy, Research and Analysis (KIPPRA), Kenya is home to over 7.4 million MSMEs, which employ approximately 14.9 million people across various sectors.

These enterprises contribute 30 percent of the country's Gross Domestic Product (GDP), making them a crucial pillar of the economy. However, despite their significance, MSMEs often face challenges that hinder their growth, such as limited access to knowledge, lack of digital skills, and the fast-paced nature of technological change.

Recognizing these barriers, Safaricom aims to empower MSMEs by offering practical solutions to help them adapt to the evolving business environment.

Speaking at the Coast forum, Cynthia Kropac, Safaricom’s Chief Enterprise Business Officer, called for digital adoption, saying, “Despite the significant contribution MSMEs make to the economy, they continue to face considerable challenges, such as inadequate knowledge and skills and rapid technology changes. 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 series to empower MSMEs.”

Read also: How financial institutions can strengthen MSMEs to grow their role in the economy

Digitalization: A pathway to growth

As businesses worldwide embrace digital transformation, Kenya is not far behind. It is estimated that 70 percent of new value created globally over the next decade will come from digitally enabled platform business models.

For MSMEs to remain competitive, they must integrate digital tools into their operations to drive efficiency and scale. This includes adopting e-commerce platforms, leveraging data analytics for decision-making, using digital marketing to reach broader audiences, and automating processes to reduce costs.

The ‘Grow with Safaricom Business’ initiative, launched in March 2024, has already made significant strides in supporting MSMEs to go digital. Beyond imparting knowledge, the platform offers valuable networking opportunities, connecting MSMEs with industry experts, peers, and potential partners. These connections are crucial in helping small businesses overcome challenges and tap into new growth avenues through collaboration and shared insights.

With continued support, MSMEs in Kenya have the potential to become key players in the digital economy, driving innovation, creating jobs, and fostering economic resilience.

In a world where digital tools are becoming increasingly indispensable, Safaricom’s call for MSMEs to go digital is both timely and essential for their sustained growth and success.

[email protected]