Are Kenya’s mobile banking services unfair?

Friday, February 14, 2014

Bob Collymore, CEO of Kenya’s biggest wireless provider Safaricom, likes to say his company’s mission is to transform lives.

In 2013 Safaricom did a lot of transforming, with Kenya — the global leader in the advancement of mobile money — reporting a record $22 billion in wireless financial transactions.

This latest figure, which accounts for more than 60% of the country’s gross domestic product, compares to $17.4 billion in mobile transactions reported a year earlier, according to the Central Bank of Kenya.

Source: CNN Money (link opens in a new window)

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banking, financial inclusion, mobile finance, mobile money