17th-Dec-2025 • Reddington Onyango • Innovation
Small and Medium Enterprises (SMEs) in Kenya have a tremendous opportunity to thrive by embracing innovation. In today's fast-paced, digital world, those who adapt quickly will reap the rewards.
According to a report by the World Bank, SMEs contribute significantly to Kenya's economy, accounting for over 98% of all businesses and employing more than 70% of the labor force. Yet, many struggle to compete against larger corporations due to limited resources.
This is where innovation steps in. By embracing new ideas, technologies, and business models, SMEs can level the playing field and achieve growth that was once thought unattainable.
Digital innovation is transforming industries worldwide, and Kenya is no exception. One area where this is evident is in the payments sector. Mobile money platforms such as M-Pesa have revolutionized the way Kenyans transact, providing SMEs with a simple, efficient, and cost-effective method of receiving and making payments.
Several Kenyan SMEs have successfully embraced innovation to achieve remarkable growth. For instance, Lipabiz Technologies Ltd, a business management platform, has helped numerous businesses streamline their operations and boost productivity.
Another example is FarmDrive, an agritech startup that uses data analytics to provide farmers with affordable credit, revolutionizing the agriculture sector in Kenya.
Innovation is the key to success for SMEs in Kenya. By embracing new ideas, technologies, and business models, these businesses can not only compete but also thrive in a rapidly changing world.
By leveraging platforms like Lipabiz Technologies Ltd, SMEs can harness the power of innovation to drive growth, boost productivity, and achieve success.