Solv Kenya Signs MSMEs Payments Deal With Cellulant




Solv Kenya, the Standard Chartered Plc-backed digital marketplace for small traders has inked a deal with Cellulant that will enable businesses to view payments on the go under one roof.

Under the deal, Cellulant will connect the micro, medium and small enterprises (MSMEs) on the Solv platform to the rails that enable them to make and receive payments.

MSMEs have been locked out of financial services owing to their inability to process and track transactions.

“By offering multiple frictionless payment methods, businesses can realise increased sales and a growing customer base,” said Cellulant group chief revenue officer David Waithaka.

The collaboration comes at a time digital commerce and online shopping are thriving across the continent as the need for safer means of shopping online takes center stage.

Around 5,000 MSMEs and more than 10 multinationals have joined Solv Kenya with the company announcing plans to sign up 10,000 businesses by the end of the year.

“This partnership gives us the chance to handle financial services more quickly and effectively to support their daily operations, which supports our goal of utilising digital capabilities to enhance MSMEs’ profitability, enable growth, and operational efficiency,” said Solv Kenya chief executive Sheila Kimani-Omukuba.

Kenyan MSMEs, as in other African countries, remain an untapped market when it comes to digital payments, yet are a major driver of the economy.

Published on: Business Daily

Publication date:18/11/22