Small and medium enterprises (SMEs) in Kenya are actively adopting digital payments, leveraging technological advancements, and forming strategic collaborations to enhance growth and resilience, as highlighted in the third edition of the Mastercard SME Confidence Index.
With 91% of SMEs in Kenya adopting digital payments, businesses are enhancing efficiency, improving customer experiences, and strengthening financial stability. This shift toward digitalization is reshaping SME operations, with many prioritizing secure payment solutions and broader financial inclusion to stay competitive in a rapidly evolving market.
“Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,” said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard.
“As SMEs in Kenya continue to embrace digital transformation, access to secure payments, financial services, and strategic partnerships remains key to their success. At Mastercard, we are committed to equipping businesses with the tools and solutions they need to grow, adapt, and thrive in an increasingly digital economy,” said Mark Elliott, division president, Africa, Mastercard.
Digital payments at the core of SME expansion
Kenyan SMEs are increasingly recognizing the benefits of cashless transactions in driving operational efficiency and financial stability. Business owners cite reduced cash handling, smoother supplier payments, and faster transactions as key advantages of digital adoption.
Looking ahead, 97% of SMEs plan to offer simple, seamless, and user-friendly payment methods to customers, while 95% aim to accept digital payments across multiple channels. Additionally, 70% are focused on ensuring safe and cyber-secure payment processing, reflecting the growing emphasis on secure digital financial ecosystems.
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