Companies Mobile money lifts financial access to 83pc of KenyansThe use of mobile money, mobile banking and digital applications has risen substantially. FILE PHOTO | NMGMobile money services has increased the proportion of Kenyans accessing financial services to 82.9 per cent, showing the significance of services such as M-Pesa and Airtel money in the economy. The rise, contained in the 2019 Financial Access (FinAccess) Household survey, is from 75 percent in 2016 and 27 per cent in 2006, leaving only 11 percent with no access to any formal financial service. Central Bank of Kenya (CBK) governor Patrick Njoroge Wednesday attributed the increase to growth in mobile money, government initiatives and developments in ICT. According to the report, use of mobile money, mobile banking and digital applications has risen substantially.

Source: The North Africa Journal April 03, 2019 19:12 UTC