Innovation Leader in Fintech and Financial Inclusion
Kenya’s financial sector is the third-largest in sub-Saharan Africa and it makes a significant contribution to economic growth and job creation. Through Vision 2030, the Government aims to create a ’’vibrant and globally competitive financial sector
- Loans
- Deposits
Loans & Deposits Growth (BN USD)
Opportunities in the Financial Services Sector
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Key Drivers of Kenya's Financial Services Growth
INCREASED ADOPTION OF TECHNOLOGY
EMERGENCE OF ALTERNATIVE CHANNELS OF DISTRIBUTION
INCREASED FINANCIAL INCLUSION LEVELS
STABLE REGULATORY ENVIRONMENT
Financial Services Sector Profile
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High Prospects for Growth
Kenya’s financial services sectors is increasingly sophisticated and diversified.
ICT Enabled Financial Services
The adoption of technology at a high rate creates room for development of compatible ICT enabled services
The expansion of the service channels in the sector provides opportunities in the client management solutions realm
Risk Management
The current state of information sharing opens up opportunities for investment both in terms of
databases and reliable financial records.
The growth of the sector across various channels increases the need for solutions like cyber security,
monitoring and record keeping
Financing
More than 70% of SMEs lack access to medium and long term finance, which creates a need for innovative
debt and equity instruments for SMEs
Partnerships with local financial institutions provide opportunities for consultancy in product development
Regional Integration
Kenya seeks to set up the Nairobi International financial center (NIFC) to be the regional hub for regional financial operations.
The local business environment is relatively stable and as such Kenya’s capital market is a stimulant for investments in the region
Finance In Kenya
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View more Financial services updatesFebruary 02, 2023