Kenyan financial technology firm, Leja, has registered 300pc increase in business-to-business transactions within a year to reach Ksh 258 ($2b).
The payment platform which supports small business to manage their payment records alludes the growth to rise in number of user since launch three years ago.
According to the firm it has onboarded 1.4 million Micro, Small and Media Enterprises out of which 60pc are women and youth-led businesses.
“The rapid adoption of the Leja App over the past year highlights the power of local solutions tailored to underserved markets. We’re proud to address the challenges MSMEs face, including limited access to affordable payment options and working capital financing. Many MSMEs previously relied on costly and inconvenient methods like cash, which impacted their operations,” said Tekwane Mwendwa, Leja Co-Founder and Chief Executive Officer.
The B2B payments service rolled out in Kenya earlier this year reported an average monthly growth rate of 30pc during the year.
“Currently, only 10pc of our users utilize the B2B payment feature, but we aim to grow this to 50pc, unlocking significant transaction volume and revenue potential. On the lending side, we plan to expand our reach from 5% to 20% by partnering with financial institutions and NGOs to bridge the MSME credit gap,” he added.
Leja further plans to expand into two additional East African markets by the second quarter of next year.
