Key regions: China, United Kingdom, Brazil, Israel, India
The CrowdLending (Business) market in Kenya has been experiencing significant growth in recent years.
Customer preferences: One of the main reasons for this growth is the increasing demand for alternative financing options among businesses in Kenya. Traditional banks have strict lending criteria and often require collateral, making it difficult for small and medium-sized enterprises (SMEs) to access the funds they need. CrowdLending platforms offer a more flexible and accessible solution, allowing businesses to borrow money directly from individual lenders.
Trends in the market: Another trend driving the growth of the CrowdLending market in Kenya is the increasing popularity of online platforms. These platforms provide a convenient and efficient way for businesses to connect with potential lenders. With the rise of internet penetration and smartphone usage in Kenya, more businesses are turning to online CrowdLending platforms to meet their financing needs.
Local special circumstances: Kenya has a vibrant entrepreneurial ecosystem, with a large number of startups and SMEs operating in various sectors. These businesses often face challenges in accessing traditional financing options, which has created a fertile ground for the growth of the CrowdLending market. Additionally, the government of Kenya has been actively promoting entrepreneurship and providing support to small businesses, further fueling the demand for alternative financing options.
Underlying macroeconomic factors: The overall economic growth in Kenya has also contributed to the development of the CrowdLending market. The country has experienced steady GDP growth in recent years, which has created a favorable environment for businesses to expand and seek financing. Additionally, the financial sector in Kenya has undergone significant reforms, leading to increased competition and innovation in the lending space. In conclusion, the CrowdLending (Business) market in Kenya is experiencing rapid growth due to the increasing demand for alternative financing options among businesses, the popularity of online platforms, the vibrant entrepreneurial ecosystem, and the favorable macroeconomic factors. This trend is expected to continue as more businesses recognize the benefits of CrowdLending and as the regulatory environment becomes more supportive.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
