NAIROBI, Kenya – June 5, 2025: Business leaders led by the Kenya Private Sector Alliance (KEPSA) have called for urgency in implementing comprehensive AI strategies to secure significant investment and innovation opportunities. With the tangible threat of global competition, business leaders have emphasised the need for immediate and decisive action. This includes a strong focus on empowering Micro, Small, and Medium Enterprises (MSMEs) and the informal sector through vital supply chain financing and improved access to capital.

The leaders were speaking at this year’s annual KEPSA Platinum CEOs Breakfast Forum, hosted by KEPSA in partnership with SeamlessHR. The gathering brought together CEOs from diverse sectors to exchange strategic insights on building resilient enterprises, innovating in uncertain markets, and positioning organisations for long-term, scalable growth amidst prevailing economic headwinds.

In his keynote address, Dr. Jas Bedi, KEPSA Chairperson, noted that the Fourth Industrial Revolution offers powerful tools for digital transformation, enabling enhanced productivity and innovation even in uncertain times. He also urged business leaders to embrace a spirit of bold, innovative, and collaborative action to unleash growth, foster inclusivity, and build a private sector that thrives in the face of uncertainty.

The forum also featured a high-level panel discussion on strategies for resilience and innovation by Dr Vimal Shah - Co-Founder & Chairman of Bidco Group and KEPSA Advisor; Mr. Kris Senanu - Founder & Chairman of Blackrock Capital Investments; Ms Brenda Mbathi - CEO, TRIFIC SEZ and KEPSA Vice-Chairperson; Mr Martin Mugambi - CEO, Citibank Kenya, and moderated by Mark Masai.

Key takeaways from the robust discussions included:

• AI as a Strategic Enabler: A resounding call was made to shift from fearing Artificial intelligence to embracing it as a fundamental driver of productivity and efficiency. Leaders emphasised the importance of utilising currently available AI tools rather than waiting for "perfect models."
• Financial Sector Transformation: The need for significant reform within Kenya's banking sector was highlighted, advocating for consolidation from 38 to approximately 15 banks. A strong push was voiced for a transition from "lazy banking" (government security investments) to increasing private sector credit, with a target of 15% from the current 1%. Crucially, the discussion highlighted the need to shift towards cash-flow-based lending for SMEs and startups, rather than relying on collateral.
• Leveraging the Youth Dividend: Participants identified Kenya's youth as a key asset, advocating for leveraging AI to establish the nation as a global hub for Business Process Outsourcing (BPO) and tech service startups. Strong collaboration between the private sector and government was deemed essential for developing national AI policies and innovative frameworks that cater to the youth.
• Skills Development and Workforce Empowerment: The imperative for aggressive reskilling and upskilling initiatives, alongside AI and tech advancements, was emphasised. Companies were encouraged to make digital tools accessible, train and upskill employees effectively, and prioritise eliminating inefficiencies and manual processes to achieve a digital-first workplace.
• Cloud Transition for Scalability: Organisations are rapidly migrating from on-premises to cloud infrastructure, which is deemed non-optional for achieving scalability and fostering innovation, despite lingering concerns about data security.
• Agility and Speed are Paramount: The forum highlighted the critical importance of rapid decision-making, asserting that delays can be more damaging than incorrect decisions. Empowering frontline staff with ownership and appropriate tools was identified as key to thriving businesses and the entire private sector.
• Amplifying Kenya's Competitive Advantage: A strong emphasis was placed on the need for Kenya to boldly share its success stories and showcase its capabilities across sectors, to attract investment and position itself as a top global BPO and AI services destination, particularly in comparison to other African nations, such as Rwanda.
• Policy Recommendations & Ecosystem Building: An urgent need for a national AI strategy and implementation framework was identified, ideally led by KEPSA with robust government support. Recommendations included the establishment of sandboxes, clear regulatory frameworks, and training partnerships between corporations and educational providers. The importance of an "ecosystem thinking" approach, fostering collaboration among large companies, startups, government, and educators, was heavily emphasised.
• Rethinking HR and Financial Inclusion: Innovative solutions, such as embedded finance through platforms offering earned wage access, were discussed as ways to address liquidity stress for low-income employees. Particularly, SeamlessHR encouraged companies to view employee well-being and enablement as strategic imperatives, utilising data-driven tools to enhance retention and engagement.

"The global economy is shifting in ways we can't predict. These forces create instability, but also new possibilities. The key to navigating this uncertainty is not just a strategy for capital, it is people," said Mr Irfan Keshavjee - Chairman, SeamlessHR. He also noted that empowering employees with immediate access to their earned wages and financial tools fosters a thriving workforce, leading to mutual prosperity for both individuals and businesses.

The forum concluded with a collective commitment to drive these critical changes, thereby fostering a resilient, innovative, and competitive Kenyan economy that promotes long-term growth and value creation.