Kenya has experienced an entrepreneurship boom across several sectors over the years. The 2023 Economic Survey by the Treasury acknowledges the role of MSMEs in innovation, leading to the creation of approximately 16 million jobs in 2023 across various industries.
According to the Small Business Development Centers (SBDC), a programme supported by USAID, it is estimated that 1.5 million MSMEs in Kenya are registered, while another 5 million operate in the informal sector. Despite these encouraging statistics, half of the SMEs do not have active insurance cover.
