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Digital payments fueling SMEs growth in E.Africa
East Africa makes up the largest mobile money market on the continent, with transaction values worth $491 billion for 390 million registered accounts in 2022.
Saying that small and medium-sized enterprises (SMEs) are the backbone of economies in East Africa is an understatement.
SMEs make up the largest part of all registered entities in nearly every industry and sector in most East African countries, averaging between 60 percent to 90 percent, including micro-enterprises.
