On the afternoon of Thursday, November 19th, 2020, Researcher Julie Zollmann defied the COVID-imposed absence of a live audience to deliver FSD Kenya’s 2020 Public annual lecture on inclusive finance, via YouTube from the University of Nairobi’s Chandaria Auditorium.
This is clearly an unprecedented time. Over the past few months, the world has been battling the COVID-19 pandemic which has seen health systems burdened and unable to cope with the rising numbers of infected people.
The rise of a new dawn in Kenya’s payments system
Eleven years after mobile money started in Kenya, a new dawn is rising – that of open and interoperable systems. Just as you can call people on any network in Kenya seamlessly, you can now send money across mobile money networks seamlessly.
Pauline Kimari is a pharmacist in Ndaragwa, Kenya, a small town several hours’ drive north of Nairobi. She moved there from rural Muranga, several hours away, to open a small shop, Ndaragwa Joy Chemist. It is white with blue and green doors and a blue bench inside. She sells medicine and cosmetics.
In an effort to understand the real needs of the people, our seventh ‘Field Friday’ exercise took us to Karagita in Naivasha. We set out to gather insights on which financial services people use and which ones they trust most.
In order to understand the take‐up, use, and impacts of M‐PESA in Kenya, US based Principal Investigators William Jack (Georgetown) and Tavneet Suri (MIT Sloan School of Management) conducted a set of five surveys across Kenya, starting in yearly between 2008 and 2011, with a fifth survey conducted in 2014 to look at the longer-term impacts of M-PESA.
Rafe Mazer was the speaker at the 2nd FSD Kenya annual lecture on financial inclusion. His presentation shared how we can develop our own “test and learn” – the way in which financial service providers and regulators collaborate to allow for new solutions – for consumer protection.
While Safaricom’s M-PESA platform stole the spotlight for being one of the world’s most transformative financial services, a somewhat hushed storm is infusing in the world of API’s in Kenya since Safaricom’s September-2015 announcement that they have opened up their APIs to the public.
The inaugural annual lecture on financial inclusion was held at the historic Nairobi National Museum on Tuesday 17th November. It was a storming success. The lecture delivered by Dr Tavneet Suri examined the mobile money revolution in Kenya, and asked, can the promise of financial inclusion for all Kenyans be fulfilled?