12th-Dec-2025 • Faith Chebet • Mobile Money
Small and Medium Enterprises (SMEs) in Kenya are no strangers to the dynamic business landscape. With the rise of digital innovation, one solution stands out as a game-changer: Mobile Money.
Mobile Money refers to the transfer of money using mobile devices, such as smartphones or feature phones, and a variety of services, including airtime purchasing, money remittance, payments, microfinancing, and digital loans.
According to the Communications Authority of Kenya's 2020 Annual Report, there were over 48.6 million mobile subscriptions, with over 39.5 million active Mobile Money accounts. This vast user base presents a significant opportunity for SMEs.
Mobile Money simplifies transactions by eliminating the need for physical cash and checks, reducing the risk of theft and errors in manual recording. For example, M-PESA, a popular Mobile Money service, allows businesses to receive payments directly into their accounts, streamlining the sales process.
Mobile Money services like Lipabiz's mobile payment platform bridge the gap in financial inclusion. SMEs can access loans, pay bills, and manage their finances seamlessly, even without a formal bank account.
Mobile Money enables businesses to reach customers beyond their immediate geographical location. With just a few taps on their smartphones, consumers can purchase products or services from SMEs across the country, fostering growth and expansion.
Mobile Money solutions help SMEs save time and resources. By automating transactions and reducing the need for manual record-keeping, businesses can focus on core operations and strategic growth.
Security is a top priority in Mobile Money solutions. M-PESA, for instance, employs multiple layers of security, including PIN protection and transaction alerts, ensuring that transactions are safe and secure.
Incorporating Mobile Money into your SME can revolutionize the way you operate and grow. Embrace this digital innovation to stay ahead in Kenya's dynamic business landscape.