A survey commissioned by Visa reveals that just 19 per cent of small and medium-sized enterprises in Kenya employ a single platform that links digital payments with broader business management functions.
The research involved face-to-face interviews with owners and financial decision-makers of 256 firms between March and April 2026, covering eleven markets. Respondents indicated that 30 per cent struggle to monitor unpaid invoices, 27 per cent find payroll record-keeping difficult and 26 per cent have trouble preparing financial statements.
Mobile money remains a dominant channel, with the Kenya National Bureau of Statistics reporting usage of 82.3 per cent in 2024, up from 79.4 per cent in 2019. The 2023 FinAccess Micro and Small Enterprise Tracker Survey showed that acceptance of digital payments rose from 74 per cent in October 2022 to 86 per cent in June 2023, yet 99 per cent of businesses still conduct at least part of their transactions in cash.
Despite the high level of digital transaction adoption, 81 per cent of surveyed SMEs said they would welcome an all-in-one payment and business solution, while only 19 per cent currently use such a system. Among the minority that have adopted integrated tools, 85 per cent expressed satisfaction and 81 per cent reported gains in operational efficiency.
The study identified perception gaps as a barrier: one in five firms were unaware of integrated solutions, 14 per cent believed their size made the tools unnecessary and 12 per cent did not see enough benefit. Respondents also highlighted the need for training to overcome limited time or expertise.
In August 2026, the Kenya Bankers Association disclosed that banks extended KSh326.5 billion in credit to micro, small and medium enterprises in 2025, with outstanding MSME debt reaching KSh596.8 billion at year-end. The association cited insufficient collateral, weak credit scores and repayment issues as obstacles, and suggested that richer data from integrated platforms could help lenders evaluate cash-flow patterns more accurately. Anne Kinuthia-Otieno, Visa’s Vice President and Head of East Africa, said integrated platforms could provide financial institutions with a more complete, data-informed view of SME needs and enable more tailored financing solutions.
The government’s National Financial Inclusion Strategy for 2025–2028 also stresses the importance of expanding access to quality, affordable financial services that meet the requirements of users.
