Promote mobile banking like Kenya, report urges African states

Safaricom M-Pesa menu showing the Pay bill option. November 28, 2012. PHOTO | SALATON NJAU

What you need to know:

  • A study released in March this year by the Financial Access Partners indicates that Kenya is the most financially inclusive country compared to many other African countries.
  • The survey shows that 77 per cent of Kenya’s population has access to financial service points within 5-km radius. Tanzania has 35 per cent of its population accessing financial services points within 5km while Uganda has 43 per cent of its population accessing financial points within the same distance.

A new report has urged African governments to emulate Kenya in supporting the development of mobile banking and electronic commerce to increase financial inclusion.

Welcome!

You're all set to enjoy unlimited Prime content.