21st-Feb-2026 • Isaac Kennedy • Mobile Money
In today's fast-paced business environment, efficiency is key. For small and medium enterprises (SMEs) in Kenya, one powerful tool that can help transform your operations is Mobile Money.
Mobile Money refers to electronic funds transfers done using mobile devices such as smartphones or feature phones. In Kenya, this service is provided by M-PESA, a pioneering platform launched by Safaricom in 2007. Since then, it has revolutionized financial services for millions of Kenyans.
According to the Central Bank of Kenya's 2020 Financial Sector Stability Report, mobile money transactions accounted for over 93% of all value transferred in Kenya. This massive adoption is a testament to its convenience and accessibility, especially for small businesses.
Let's explore some ways SMEs can leverage Mobile Money to their advantage:
Gone are the days of waiting in long queues at banks for transactions. With Mobile Money, you can send and receive payments quickly and securely, 24/7. This flexibility allows you to settle supplier invoices promptly or accept customer payments instantly.
Mobile Money enables real-time balance checks, allowing SMEs to keep a close eye on their cash flow. This transparency can help you make informed decisions about expenditures and investments.
By minimizing the need for physical trips to banks, Mobile Money helps reduce transportation costs. Additionally, transaction fees for Mobile Money are often lower than those for traditional banking services.
Mobile Money allows businesses to accept payments from customers across the country, even if they don't have a physical location in every town or city. This opens up new markets and opportunities for growth.
To get started with Mobile Money, you'll need a registered SIM card and an account with a Mobile Network Operator (MNO). Once set up, you can use the M-PESA app on your smartphone or USSD codes for feature phones to manage your transactions.
To maximize the benefits of Mobile Money, consider the following:
