The impact of the recent six-month drought is readily apparent. The earth is dry and cracked and most of the trees and shrubs are barren. Riverbeds are full of dried branches and the livestock that roam the area are but skeletons, with many dead along the road.
Sending money to Africa is more expensive than anywhere else in the world, according to new research due to be published at this week’s Global Remittance Conference in New York. The report argues that existing technology – like regional automated clearing houses, remittance payment processing hubs and aggregators – could all make sending money from the UK to Africa much, much cheaper.
Across Africa, entrepreneurs and business leaders are increasingly aware that hiring top talent is critical to winning in the marketplace. In Kenya especially, technology-driven financial services companies (“fintechs”) struggle to recruit efficiently and effectively: when they post a job opening, they are often inundated with a high volume of applications and selecting candidates feels like a subjective process prone to bias and inconsistency.
Across Africa, business leaders increasingly point to the importance of attracting and retaining top talent to compete and win in the marketplace. In Kenya especially, organizations struggle to recruit efficiently and effectively when they post a job online, they are often inundated with a high volume of applications from mostly low-quality candidates, and picking candidates feels like a subjective process prone to bias and inconsistency.
FSD Kenya and CARE Kenya jointly designed a project for implementation in Laisamis, Marsabit county, applying the graduation approach. The objective of the project is to test use of market based approaches to building the livelihoods of poor households.
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.
Market facilitation can (and does) work
Kenya is a good place to start when considering market facilitation. It is the poster child of financial inclusion, with access to formal finance growing dramatically from 27 percent in 2006 to 75 percent in 2016.
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.
I spent a week in Kenya, courtesy of Financial Sector Deepening, an initiative of a number of aid agencies, including Britain’s Department for International Development, the Swedish government, and the Gates Foundation.
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.
Just what is finance for?
On Wednesday 8th February 2017, John Kay met with 18 financial sector industry leaders to discuss this question and the future of finance in Kenya.
Over 250 policymakers, industry players, regulators, lecturers, students, financial sector analysts, development practitioners and other guests gathered at the National Museum’s Louis Leakey Auditorium on Thursday 9th February 2017 for the 3rd FSD Kenya annual lecture on financial inclusion.
During his delivery of the 3rd FSD Kenya annual lecture on financial inclusion, John Kay argued that the challenge for emerging economies is to avoid the mistakes of the west and to instead focus on building a financial sector that is focussed on the core needs of the non-financial economy.
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.
This year’s annual lecture will be delivered by Rafe Mazer, a Financial sector specialist at CGAP.
Join us for what we expect will be a stimulating discussion on competition and consumer protection in Kenya’s financial sector.