What Kenya can teach its neighbors — and the US — about improving the lives of the “unbanked”

From Kelsey Piper / Vox: Mobile banking in Kenya has increased economic mobility for families living in poverty. The mobile money system is not connected to bank accounts, making it accessible to the overwhelming majority of Kenyans who don’t have bank accounts but do have cell phones. Mobile banking allows deposits and withdrawals as well as transfers, and has allowed families to save money to use when their income, often from farming, takes a hit thus creating a security net for themselves and allowing them to receive funds from friends and family. Savings allow families to meet basic needs and access medical care if necessary.

Read the original story here.

Issue Areas:

Financial Institutions, Poverty Reduction Measures, Public Banking, Technology

Impact Areas:

Equity

Actors:

Lending, Banking, and Financial Institutions, Workers / Labor Unions

Communities Served:

Communities Experiencing Economic Hardship, Rural Communities, Workers

Strategies:

Collective Action, Designing Culturally Specific Solutions

Success Factors:

Building Distribution Systems, Eliminating Barriers, Empowering People, Expanding Access, Leveraging Technology, Meeting People Where They Are At, Overcoming the Big Challenges, Using A Comprehensive Approach

Geographic Region:

Africa

Countries:

Kenya

Date:

September 11, 2020

More Resources:

Conversation with Xavina Walbert & Karen Suarez

Karen Suarez is the Vice President of Collective Impact at the Making Hope Happen Foundation, where she supports Uplift San Bernardino through cross-sector collaboration and collective action. Passionate about diversity, equity, and inclusion, she leverages her experience to strengthen organizational...

Conversation with Ignacio Saiz

Ignacio Saiz is an independent consultant and advisor on issues of human rights and economic justice. He previously served as Executive Director of the Center for Economic and Social Rights, an international NGO that works for a rights-based economy, and...

Dubai becomes world’s first paperless government

From Varun Godinho / Gulf Business: The government of Dubai became the world’s first paperless government with all 45 government entities providing digital services. Becoming entirely digital has been more efficient for public service delivery and reduces harmful environmental impacts....

It’s more than just cash’: Young Seoulites navigate future with city’s youth allowance program

From Lee Suh-yoon / The Korea Times: The Youth Allowance Program in Seoul gives lower to middle-class residents (aged 19 to 34) a monthly stipend of 500,000 won ($418) for up to six months to ease the financial burden of...

Conversation with Demond Drummer

Demond Drummer is the Director of Strategy at the Institute on Race, Power and Political Economy at the New School. A leading proponent of a Green New Deal, Demond has introduced bold new ideas and shifted public discourse, advocating for...

Conversation with Mafah Cornelius Kuta

Mafah Cornelius Kuta is a regenerative farmer and former principal in Cameroon. Mafah’s goal is to create and establish a regenerative agriculture school and regenerative agriculture movement by equipping farmers to regenerate land within culturally relevant and ecologically-appropriate contexts. Mafah...