Publications
Published on November 24, 2016

Testing SME banking in Kenya – a mystery shopping exercise

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Summary

The financial services sector’s attitude towards small and medium sized enterprises (SMEs), is changing. SMEs form a significant part of the potential finance market in most countries, including Kenya. Despite the growing commitment of Kenyan banks to this market, in comparison to other sub-Saharan countries, access to finance is still considered to be a major constraint
to growth and sustainability.

FSD Kenya has, since its inception in 2005, sought to catalyse the financial sector to address challenges faced by growing businesses. As FSD Kenya engaged with this market, it became increasingly apparent that there was a poor understanding of what the Kenyan SME finance landscape actually looked like.

It was in this context that FSD Kenya’s GrowthCap project embarked on a market study, in late 2014, to map out the Kenyan SME finance landscape. The study was conducted in Nairobi and set out to provide a snapshot of what the prevailing SME finance market looked like in Kenya focussing primarily on three aspects of how the banks serve SMEs.

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