CBSK’S PERSPECTIVE ON KENYA’S ‘DIGITAL ECONOMY’ ERA

The truth is undeniable: Technology hubs are shaping the next chapter in Kenya’s history, and the digital economy is the driving force.However, amid the buzz around the Digital Economy, we have noticed there is somewhat less emphasis on going ‘digital’ right down at the grassroots in our businesses. Especially SMEs. Even when providers offer stripped down versions for SMEs, they are just that: stripped down versions of tools that were designed to meet the requirements of large corporations and hold little relevance for fast growing and evolving SMEs in Kenya.Here are five key lessons that resurface over and over again in our interactions with entrepreneurs:

1.Open Data: Businesses ought to utilize the open data more to gain valuable insights to enhance their products and services hence make informed decisions.

2.Partnerships: Tech hubs should Collaborate with key stakeholders creating powerful synergies. Together, we can work on initiatives such as entrepreneurship programs, networking events, and policy advocacy, which help bridge the gap between technology and traditional industries, boost local economies, and create a more dynamic and resilient business environment.

3.Cultural Assets: Innovators should combine unique cultural and historical elements of Kenya with tech advancements to create distinctive solutions.

4.Economic Inclusion: Their is huge gap in optimized service delivery therefore CBSK should continue working with SMEs to ensure all businesses have accessibility to affordable digital services.

5.Labour Market Development: We need to invest more in training and mentorship especially of the youth to ensure a well-equipped workforce for tech-driven industries.

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