The Principal Secretary for the State Department for MSME Development, Susan Mang’eni, has urged Fintechs in Kenya to cover the USD 20 billion financing gap for MSMEs in Kenya, a move that would fast-track the economic development of the nation.

The PS asked the sector to consider investing beyond personal credit and offer value chain-tailored working capital and trade financing solutions.

PS Mang’eni was speaking during the Fintech Trade Mission from London to Nairobi, organised by Africa Insights Consulting at the KPMG East Africa Offices in Nairobi. The event brought together the local fintech and MSME sector, together with 13 select global fintechs from London, United Kingdom, to share best practices and areas of collaboration, under the theme “Navigating the Fintech Regulatory Landscape: Policy, Regulation, and Compliance Environment in the Fintech Sector.”

Peter Kinuthia, Partner & Head of Tax & Regulatory Services, KPMG East Africa, reiterated the strategic role of the State Department for MSME Development to strengthen Kenya’s micro, small, and medium enterprise ecosystem through integrated policy advisory, capacity building, access to finance, and digital transformation initiatives. “KPMG seeks to support the government in designing and implementing evidence-based MSME development strategies, enhancing institutional frameworks, and accelerating private sector participation,” he added.

PS Susan Mang’eni highlighted the Kenyan Government’s commitment to credit inclusion through the Hustler Fund, which has managed to create a credit profile for 26 million Kenyans, with 4.5 million Kenyans having achieved positive credit rehabilitation and are ready to enjoy credit from the mainstream financial sector.