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

A dollar sign forms one of the columns of a stately building

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.

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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...

From Candice Helfand-Rogers / The Story Exchange: In Jackson, Mississippi, the nonprofit-run Magnolia Mother’s Trust is a guaranteed income program providing a no-strings-attached monthly stipend of $1,000 to Black mothers living in affordable housing to help them combat poverty. Click...

From Diane Berard / Future of Good: Novia Scotia, Canada, created community economic development investment funds with a 35% tax credit to investors to help small businesses that need capital but don’t qualify for bank loans. The cooperative FarmWorks brings...

From Josh Cohen / CrossCut: In Seattle, Homestead Community Land Trust and Habitat for Humanity Seattle-King County help low-income residents buy homes using a community land trust model. Residents who make under 80% of the local median income can purchase...

From Oscar Perry Abello / NextCity: In Louisville, community organizers are betting that a guaranteed income program will reduce community violence in disinvested neighborhoods – and protect against displacement of residents. Read the original story here. Find other articles about...

Natalia Linou (Linos) is a policy specialist at the United Nations Development Programme (UNDP). Her current role as part of UNDP’s HIV, health and development team is focused on the prevention of non-communicable diseases and on developing an emerging area...

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