Safaricom has advised micro, small and medium enterprises to embrace digital technology in order to accelerate the growth of their business models.
It is estimated that 70 per cent of new value created over the coming decade will be based on digitally enabled platform business models as the global economy rapidly digitalises.
Alive to this reality, Safaricom on Wednesday hosted the fourth series of the ‘Grow with Safaricom Business’ forum.
The forum was targeting MSMEs in the Coast region to equip entrepreneurs with knowledge that will enable them to scale their businesses through technology.
Statistics from the Kenya Institute of Public Policy, Research and Analysis indicate that Kenya boasts of over 7.4 million MSMEs which generate an impressive 30 per cent to GDP.
The data shows that the small businesses employ approximately 14.9 million Kenyans in various sectors of the economy.
“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 among others that hinder the growth of their businesses,” Safaricom Chief Enterprise Business Officer, Cynthia Kropac, said.
She said the telco hosted the business growth empowerment programme as it believes in the power of technology and its potential to transform businesses.
Launched in March this year, Grow with Safaricom Business forum is a series of monthly seminars aimed at helping MSMEs develop business solutions.
It also aims to equip entrepreneurs with skills to run their businesses more efficiently and network with peers, industry experts and potential partners.
“We have more than 500 people attending, nearly even 1000 people both physically and online but they don’t know each other,” Kropac said, adding that the forum is hence a good networking platform whose value will extend beyond the day of attendance.
She said the Momabsa series was the first to be held outside of Nairobi owing to the coastal city’s owing to its vibrancy as a business hub.
“If you look at even look at the Chamber of Commerce, the most active chapter in the whole of Kenya sits right here in Mombasa,” she said, adding that the city being a transit point for imports and exports also made it most desirable for the forum.
Attendees said the forum had lived up to its expectations.
“My message to county governments and also the national government is to enable the environments for MSMEs to grow,” hotelier Mohammed Hersi said.
