Kenyans moving to agency banking as it flops in Tanzania!!!

[Kabaridi]

Over 70% of Kenyans lack access to formal financial services with a majority of Kenyans only accessing basic money transfer services through their mobile phones. That is, however, set to change as banks, saccos and microfinance institutions seek to take advantage of agency banking to increase access to financial services as well as grow their customer base. The last banking sector report from the Central Bank of Kenya indicates that there are currently over 10 thousand active banking agents across the country a factor expected to ease the cost of financial access by making it cheaper and more convenient to deposit and withdraw cash. The agents contracted by eight banks made transaction worth 66 billion shillings last year. So what is agency banking and what impact is it bound to have on the local financial sector? Alice Odera sat down with Kenya Bankers Association Chief Executive Habil Olaka to shed light on the new banking craze. This is however a sharp contrast to TZ where it is estimated only 13% of the population is banked making the possibility of setting up agency banking a mirage.

 

[mfianchi]

Hea yangu naweka kwenye kibuyu chini ya Mugumo

 

[bagamoyo]

Over 70% of Kenyans lack access to formal financial services with a majority of Kenyans only accessing basic money transfer services through their mobile phones. That is, however, set to change as banks, saccos and microfinance institutions seek to take advantage of agency banking to increase access to financial services as well as grow their customer base. The last banking sector report from the Central Bank of Kenya indicates that there are currently over 10 thousand active banking agents across the country a factor expected to ease the cost of financial access by making it cheaper and more convenient to deposit and withdraw cash. The agents contracted by eight banks made transaction worth 66 billion shillings last year. So what is agency banking and what impact is it bound to have on the local financial sector? Alice Odera sat down with Kenya Bankers Association Chief Executive Habil Olaka to shed light on the new banking craze. This is however a sharp contrast to TZ where it is estimated only 13% of the population is banked making the possibility of setting up agency banking a mirage.

Kabaridi,
Please acknowledge the source of info/link so that we can discuss this matter in depth.

 

[Kabaridi]

Hea yangu naweka kwenye kibuyu chini ya Mugumo

halafu unayapeleka kwa tolori?!!