Financial service providers

Blog

The opportunity for financial inclusion in health insurance coverage

In 2019, FSD Kenya and Turaco – a Kenyan microinsurtech startup providing simple, low-cost health and life insurance products to emerging market consumers – collaborated on a three-month pilot project in with a leading digital lender in Kenya. The study found that 80% of respondents were most interested in an in-patient cover to cushion the cost of hospital admissions, saying getting such insurance for free is incentive enough to repay their loans on time. Almost 50% of the treatment group opted in to having insurance payments added to their future loans, citing the idea of low-cost insurance from a financial service provider they know and trust as a key incentive.

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Blog

Kenya launches the Year of Climate Action (#YoCaKenya)

On the morning of November 3rd, 2020, I was honoured to be part of the launch of the Year of Climate Action in Kenya (#YoCaKenya).

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Blog

The Financial diaries: A glimpse into how scarcity shapes life in Kenya

The year 2020 will undoubtedly go down in history as the point in time when COVID-19 paralysed the world.

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Events

Central Bank of Kenya, Kenya National Bureau of Statistics and FSD Kenya host virtual “FinAccess Datafest”

On Thursday 3rd September 2020, the Central Bank of Kenya (CBK), the Kenya Bureau of Statistics (KNBS) and the Financial Sector Deepening Trust (FSD Kenya) hosted a “FinAccess Datafest” webinar, live-streamed to a global audience on YouTube.

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Blog

Kenya enhances its cash transfer programmes in response to the COVID-19 pandemic

As the world reels from the impact of the COVID-19 pandemic, a key lesson it has taught us is the universality of our vulnerability.

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Blog

Hustlers: Entrepreneurs whose success we can bank on!

A little over a month ago, we confirmed an exciting hypothesis  that it is actually possible to predict the propensity of success for Kenyan “hustlers” based on data mining and qualitative research

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Blog

Will COVID-19 make or break community-based finance?

A big question amidst the current COVID-19 has been, how are community-based finance models fairing?

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Blog

Weathering the COVID-19 storm: How will Kenyans cope?

The COVID-19 pandemic is testing the resilience of governments, health systems, large companies, small businesses and families worldwide.

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Blog

Predicting the propensity to succeed among Kenyan “Hustlers”

Shujaaz Inc. is a Kenyan communications research and production company. Formerly called Well Told Story, the company is the producer of “Shujaaz,” an award-winning media platform that provides open spaces – including online platforms – for youth to discuss personal and societal issues often considered sensitive or taboo within their communities.

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Blog

The art of cultivating youth skills and employment

This is the second blog in a three-part series on youth employment and skill-based work.

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Blog

How can inclusive finance help in a pandemic?

We were huddled in a routine team discussion at FSD Kenya when we received news of the first confirmed Covid-19 case in Kenya.  Like many others, we wondered what this might mean for our work, our families and our country in the days ahead.

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Blog

FSD Kenya’s new horizons for more inclusive finance

Today, I am honoured to represent FSD Kenya at the UK Africa Investment Summit in London. I am inspired by the potential of the entrepreneurs, investors, government officials and civil society organisations who are full of ideas, solutions, and drive to leverage connections and learning across the continent to grow Africa’s economy and wellbeing.

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Blog

Provider, Platform, Product: Which ‘P’ should regulators target?

Technology has changed how services are developed and delivered to customers. Regulators are hard-pressed to figure out how to respond, what to regulate, and what to leave aside.

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Blog

Digital credit: not every winner must create a loser

The first article in a blog series examining the Kenyan credit market by FSD Kenya drew an analogy between the recent forest fires in the Amazon Jungle and the explosion of digital credit in Kenya.

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Consumer insights

Digital credit audit report: Evaluating the conduct and practice of digital lending in Kenya

Digital credit has been instrumental in granting formal credit in ways that were not conceivable a decade ago. It has provided individuals with the tools to manage their day-to-day needs and working capital for small enterprises.

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Blog

Kenya’s youth and the long road to skill-based work

Combining education, apprenticeship, and start-up capital to surmount barriers and transform trajectories 

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Blog

What’s Twitter got to do with consumer protection?

Social media is changing customer service by shifting the ways in which consumers seek resolution of problems and the communications channels that firms make available to consumers.

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Blog

Did you see my Tweet? Kenyans’ cries for financial consumer protection ring out on social media

The use of an alert system that flagged Twitter conversations on consumer protection topics, when they rose above certain thresholds, shows promise as a new consumer protection market monitoring tool that we could use in Kenya to address the substantial gaps in consumer protection monitoring and enforcement.

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Financial Diaries

Did you see my tweet? Monitoring financial consumer protection via social media

Social media is changing customer service by shifting the ways in which consumers seek resolution of problems and the channels that firms make available to consumers.

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Blog

Inclusive finance? Not there yet…

As I reflect on my first month leading FSD Kenya, I am struck by both the challenges we face as well as the opportunities we can seize to truly create value through inclusive finance in Kenya.

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Blog

What solutions would make a difference in education finance?

Education presents an opportunity for poor households to break out of the poverty cycle in future. What are some of the interventions and finance solutions that have made a difference in education finance?

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Blog

Moving from financial access to inclusive finance

FinAccess 2019 was launched last week by the Governor of the Central Bank of Kenya.  The results from this national household survey provide a comprehensive and authoritative picture of the retail financial services sector in Kenya.

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Consumer insights

Dignity, respect, and consumer debt

Financial Sector Deepening-Kenya is proud to be a supporting partner of Dignity and Debt‘s project that involves the use of AI to marshal citizen voices about their experiences with digital credit.

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Protecting consumers means thinking like consumers
Consumer insights

Protecting consumers means thinking like consumers

Joseph and Alice are not real people, but the impact of behavioral research on consumer protection is anything but hypothetical. Across the world, consumer protection authorities have been using behavioral research to inform everything from post-financial crisis rules for mortgage brokers to regulations on new mobile and app-based financial services.

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Blog

What can financial providers learn from chamas?

Why informal financial groups fundamentally embody key features of how Kenyans want their money to work to help them live well

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Blog

Who’s getting financial inclusion funding in Sub-Saharan Africa?

For the first time in over a decade, Sub-Saharan Africa is a top priority for international funders investing in financial inclusion, with 30 percent of all active projects focused on the region.

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Blog

What do Kenyans really want from financial service providers?

Insights into the social value of financial services

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Blog

The use of mobile money technology: a dividend or disaster for FSAs?

This is the third blog in a series about Financial Service Associations (FSAs) and their potential for growth and customer value creation based on an FSD Kenya commissioned survey by BFA.  Read the first blog here: Financial services associations: an imperfect solution and the second blog here: FSA asset financing: when paying more yields more.

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Blog

FSA asset financing: when paying more yields more

This is the second blog in a series about Financial Service Associations (FSAs) and their potential for growth and customer value creation based on an FSD Kenya commissioned survey by BFA. The survey took place in 2017 in Bamba, Kakeani and Mukuyuni and involved in-depth interviews with over 60 respondents including customers, their non-member neighbours and FSA staff. 

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Blog

Financial services associations: an imperfect solution

This is the first blog in a series about financial services associations based on an FSD Kenya commissioned survey by BFA.

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