Kenyan businesses have been called upon to embrace technological innovation and prioritize commercialization as crucial drivers for transforming commerce. Speaking to KBC Channel 1, industry expert Dr. Kevit Desai emphasized the need for entrepreneurs to integrate digital tools and scale operations to enhance efficiency and competitiveness in today’s globalized market.
“Technology is no longer a luxury for businesses; it is a necessity,” Dr. Desai stated. “Those who invest in tech will be better positioned to meet customer demands, optimize their supply chains, and expand their reach. Commercialization, particularly of homegrown innovations, will enable businesses to scale quickly and gain a competitive edge.”
This appeal coincides with a period of rapid technological advancement in Kenya. The nation has gained recognition as a tech hub, excelling in fields like fintech, agritech, and e-commerce. Notable successes include M-Pesa, the pioneering mobile money service, and Twiga Foods, which connects farmers to vendors via a digital platform. These innovations underscore the transformative potential of technology in reshaping trade both locally and globally.
According to the Kenya National Bureau of Statistics (KNBS), the tech sector has been growing at over 10% annually, with the e-commerce market projected to hit $3.4 billion by 2027. However, many small and medium-sized enterprises (SMEs) have yet to fully capitalize on these advancements. Challenges such as limited funding, inadequate training, and lack of awareness hinder the ability of SMEs to harness technology for productivity and global outreach.
To bridge this gap, government and private sector stakeholders have launched initiatives aimed at supporting businesses. Programs like the Digital Literacy Programme and the Kenya Industrial Transformation Programme offer funding, mentorship, and training, particularly targeting SMEs in rural areas.
Kenya’s growing tech ecosystem provides a fertile ground for adopting cutting-edge technologies like artificial intelligence (AI), blockchain, and the Internet of Things (IoT). These tools, alongside the ongoing growth of e-commerce and online payment systems, have become indispensable as consumer preferences shift towards digital convenience.
As Kenya positions itself as a leader in Africa’s digital economy, the integration of technology and commercialization offers a path to sustainable economic growth. By leveraging these advancements, businesses can drive job creation, enhance global competitiveness, and contribute significantly to the nation’s prosperity.
