Nairobi to Host Kenya’s Premier Finance Summit for SMEs on April 22

150+ of Kenya’s most influential SME leaders are set to gather in Nairobi on April 22 for the SME Finance Summit 2022.

Hosted at The Panari Hotel along Mombasa Road, the event will bring together SMEs owners, sectoral leaders in banking and finance, fintech, credit institutions, and respected industry analysts to share their collective expertise around the theme “Financial Challenges and Way Forward for SMEs in Kenya.”

“Small and Medium enterprises play a crucial role in the Kenyan economy,” says Kimani Patrick, the CEO of Carlstic and lead organizer of the event. “80% of the working population relies on the sector, being that most of these businesses are found in towns and along highways of major towns.”

The SME Finance Summit 2022 will combine keynote addresses, presentations, panel discussions, real-life business use cases, and corporate technology tracks to give delegates exclusive guidance on overcoming the financial challenges and harnessing the opportunities that come with financial technology advancement.

SMEs are engines of growth, and are vital to the global economy. Data from the Central Bank of Kenya (CBK) indicates that SMEs constitute 98 percent of all business in Kenya, create 30 percent of the jobs annually as well as contribute 3 percent of the GDP. This is in addition to them satisfying local demand for goods, innovating, and supporting large firms with inputs and services.

However, small businesses face challenges such as inadequate capital, limited market access, poor infrastructure, inadequate knowledge and skills, regulations, and rapid changes in technology.

The finance challenge especially is critical. Whether the money is needed to provide working capital, credit for short-term opportunities, or long-term finance for innovation, growth, and greater sustainability, the financial sector has also struggled with the SME market.

The event seeks to create a platform where SMEs will engage with major finance experts and get equipped with skills in modern finance practices, capital gaining, and how to leverage that for business growth.

Part of the planned event sessions includes a dedicated session in that attendees will engage on how to get investments. This section of the event will showcase a series of available investment options for SMEs, a fireside chat, and a panel discussion with venture capitalists, angel investors, financial institutions, and regional industry thought leaders.

“Finance technology has taken center stage in the industrial financial inclusion and made it easier to do business. Digital payments are quickly taking over in the payments sector. All SMEs owners are looking to adapt and absorb some of these technologies into their business operations,” says Wachera Waweru, the event’s coordinator.

This, she says, will be exemplified through an exclusive session on digital finance transformation where leaders in fintech will get to make presentations on how their solutions can help scale the growth of businesses.

The government, private organizations, and other stakeholders and policymakers have been at the forefront of checking SMES welfare, especially during the Covid-19 pandemic. Through the establishment of better policies like ‘buy Kenya, build Kenya’ and providing capacity development, and alternative funding some SMEs have seen positive change. At The SME Finance Summit 2022, a seat will be set for SMEs to have their questions answered by major policy influencers, taxation, and regulation experts.

The event’s objective is to be the leading supporter, a big contributor, and a channel through which SMEs achieve success and grow in Kenya. Speakers and panelists of the event will be announced on March 31, 2022.

To learn more about how to attend the SME Finance Summit 2022, and to sponsor or speak at the event, please contact Wachera Waweru at team@smesummit.co.ke or on +254 769 334407. You can also join the conversation on Twitter and LinkedIn using the hashtag #SMEFS2022.