This week is financial inclusion week, a good moment to take stock of the multibillion dollar ‘fortune at the bottom of the pyramid’ that has been so successfully reaped by the financial inclusion industry.
Natasha is a young woman who has a cake baking business on the outskirts of Nairobi. She has a bank account for her business which she uses intensively. Natasha’s business was doing well and she needed a loan to expand.
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.
M-Shwari (meaning ‘calm’ in Kiswahili) is a combined savings and loans product launched through a collaboration between the Commercial Bank of Africa (CBA) and Safaricom.
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