President Obama a Fan of M-PESA, Kenyan Innovation

Monday, July 27, 2015

US President Barack Obama has endorsed Kenya’s innovation powerhouse status and regional economic might during the opening of the 6th Global Entrepreneurship summit.

The US leader said Kenya has made significant mileage in innovation that has been applied in various parts of the world.

“Kenya is leading the way. Today, Kenya is the largest economy in East Africa. High speed broadband and mobile connectivity are on the rise, unleashing the entrepreneurial spirit of even more Kenyans. Every year around the world, millions of people save money with M-Pesa and it is a great idea that started here in Kenya,” President Obama said.

He said that Kenya’s crowdsourcing innovation, Ushahidi had transformed electoral process in Zimbabwe and Bangladesh.

Kenya was also praised as a country with a bright future in innovation.

“Here in Nairobi, startup incubators are nurturing new businesses every day, each with the potential to be the great next Kenyan innovation,” Mr Obama told delegates.

Source: All Africa (link opens in a new window)

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financial inclusion, mobile banking, mobile finance, mobile money