Kenya: M-Pesa Offering Boosts Financial Inclusion

Nairobi — CUSTOMERS using the innovative mobile-phone based, miro credit and savings product, KCB M-PESA, have transacted over Sh7,8 billion (US$76,8 million) in loans a year since launch, thus significantly deepening financial inclusion in Kenya.

The joint initiative between Safaricom and KCB Group has recruited over 5,2 million customers in the period, with an average Sh660 million loans disbursed through the service on a monthly basis.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.