Editor’s Note: Please note that this infographic was superseded by a new version on 29/09/2014. View the new infographic or learn more about the updated version.
The Kenyan experience with mobile money is testimony to how technological innovations coupled with a supportive policy environment and appropriate oversight can enhance the level of financial inclusion and economic growth. The launch of M-PESA in 2007 was a critical breakthrough that provided insights on the use of mobile phone platforms to facilitate a basic payment service that could open many opportunities to increase financial inclusion in Kenya, improving the efficiency of financial services by expanding access and lowering transaction costs.
Mobile money has over the years grown from a money transfer platform to a payment platform and now many new products ride on the M-PESA platform. Some of those products, like M-Shwari, allow low-income and unbanked people to accumulate capital through savings and affordable credit. The Kenyan Journey to Digital Financial Inclusion is an infographic that chronicles the development of mobile money in the country tracing how policy decisions and product innovations worked together to connect three quarters of the Kenyan people to electronic payments and other products.
View the infographic. Please note that this infographic is very large. Please zoom in to a comfortable reading distance and navigate through the timeline within the pdf.
