As someone who has spent over 7 years building software applications, I’ve seen firsthand the transformative power of technology in improving processes and solving problems. But even with all the innovation around us, one critical area remained underserved—financial management for small and medium-sized enterprises (SMEs) in Africa. This is where my co-founder, Isaac Kennedy, and I saw an opportunity. We believed that SMEs are the backbone of Africa’s economy, yet they struggle daily with fundamental issues like managing payments, tracking expenses, and maintaining proper bookkeeping.
Isaac, with his 6 years of experience in business management and financial development, witnessed these challenges from a financial perspective. SMEs often operate without clear financial structures, leading to lost revenue, missed payments, and disorganized records. We both knew that if African SMEs were to thrive and grow, they needed a simple, affordable, and effective platform to manage their finances. That’s how Lipabiz was born.
The Problem We Faced
In our early discussions, Isaac and I identified a huge gap in the market. Existing financial tools were either too complex, too expensive, or not designed for the unique realities of African businesses. SMEs needed solutions that fit their specific challenges—mobile payments like M-Pesa, local currency support, and easy-to-use features for business owners with little to no formal financial training. Many small businesses were manually handling their finances—juggling receipts, handling cash payments, and using outdated methods to track income and expenses.
But the real challenge we faced wasn’t just about creating another financial tool; it was about building something that worked for African SMEs. Something that would simplify their lives, allowing them to focus on growing their businesses rather than getting lost in the complexity of financial management.
We also had to address the issue of accessibility. Many business owners couldn’t afford the high costs associated with most financial software available on the market. If we were going to truly make a difference, we needed to ensure that Lipabiz would be accessible to everyone, regardless of the size of their business.
Building the Solution: Lipabiz
From the start, our vision was to build a platform that would combine ease of use with powerful tools for financial management, specifically tailored to SMEs in Africa. I leveraged my experience in software development to ensure that the platform would be intuitive and scalable, while Isaac focused on ensuring that the financial tools we developed would directly address the challenges SMEs face daily.
Lipabiz simplifies the entire process of payments, bookkeeping, and expense management. We designed it to automatically track payments (including mobile options like M-Pesa), generate invoices, and manage expenses—all in one place. With Lipabiz, business owners don’t have to worry about creating complicated spreadsheets or losing track of their income and expenses. It’s all automated and organized.
Our platform offers features such as:
Payment collections: Receive payments automatically into any bank account in Kenya or mobile wallets like M-Pesa, ensuring that SMEs get paid faster and without the hassle.
Bookkeeping: With Lipabiz, businesses can keep accurate records of their financial activities, which simplifies tax filing and financial reporting.
Expense management: SMEs can track their bills and recurring expenses with ease, helping them maintain financial discipline and control.
We also introduced flexible pricing, including a free plan, because we believe that no business should be left behind due to cost barriers.
Why We Believe in Lipabiz
Today, I’m proud of what Isaac and I have built together. Lipabiz isn’t just a tool; it’s a business partner for thousands of entrepreneurs across Africa. By automating financial management, Lipabiz helps SMEs focus on what matters most—growing their businesses.
But this is just the beginning. Isaac and I are committed to continually improving Lipabiz and expanding its capabilities. We want to see SMEs across Africa thrive, and we believe Lipabiz is the solution to many of their financial challenges.
With Lipabiz, businesses no longer have to struggle with messy paperwork, missed payments, or disorganized financial records. We built this platform to be simple, effective, and accessible because we know that when SMEs succeed, Africa succeeds. Let’s grow together.
By Maxwel Otieno, Co-Founder of Lipabiz Technologies Ltd.