PS Susan Mang’eni Challenges Fintechs to Fix Kenya’s $20 Billion MSME Credit Crisis
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By John Kariuki
Principal Secretary for MSME Development, Hon. Susan Mang’eni, has issued a bold call to fintech companies to lead the charge in closing Kenya’s staggering USD 20 billion financing gap for Micro, Small, and Medium Enterprises (MSMEs).
Speaking at the Fintech Trade Mission from London to Nairobi, held at KPMG East Africa offices, PS Mang’eni urged fintech players to move beyond personal loans and embrace solutions like working capital and trade financing tailored to MSMEs. The event, themed Navigating the Fintech Regulatory Landscape, was organized by Africa Insights Consulting.
“The success of MSMEs is central to Kenya’s economic growth. Fintechs must step up with smart, inclusive solutions that empower small businesses across the value chain,” Mang’eni emphasized.
She cited the Hustler Fund as a government success story, having created credit profiles for over 26 million Kenyans and rehabilitated 4.5 million individuals to positive credit standing.
The forum brought together local MSME players and 13 UK-based fintech firms exploring partnerships and global best practices.
KPMG East Africa’s Head of Tax and Regulatory Services, Peter Kinuthia, praised the State Department’s leadership in strengthening MSMEs through digital transformation, policy reform, and capacity building. He reaffirmed KPMG’s commitment to evidence-based solutions for inclusive economic growth.
With rising government support and global fintech interest, PS Mang’eni said Kenya’s MSME sector is at a tipping point: “Now is the time to act. We must unlock affordable credit and drive inclusive transformation through innovation.”
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