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Why MSMEs and banks need a mutual evolution
Kenya’s economic future won't be secured by wishful thinking; it will be built by millions of MSMEs brave enough to step out of the shadows of informality.
Attend any fintech conference or read the latest report about trade financing gaps in developing economies including Kenya and you will notice that the debate is about the same wall: Micro, small and medium enterprises’ struggle to access affordable credit.
We love to point fingers at both our mainstream and alternative financial systems. We accuse commercial banks of being risk-averse, elitist, and detached from the realities of informal trade. We accuse fintechs of predatory lending.
