Tag Archives: banking the unbanked

2017 is the Year Mobile Service Operators Became Banks

South African business headlines read MTN takes on Vodacom for title of Africa’s biggest digital bank and usher in a whole new era for banking and finance on the mobile platform. Having watched this space impatiently for more than a decade, seeing this was a landmark worth noting. The number of mobile-money customers in the […]

Posted in Africa, Airtime, Alternative currency, ASEAN, Banking, Base of the Pyramid, Biashara Economics, Business Models, Cashless transactions, Collection, Design, East African Community, Economy, Ecosystem, Emerging Markets, Innovation Planning, Kenya, Marchés africains, Mobile platform, Perspective, Prepaid Economy & Informal Sector, Research, Rural Economy, Strategy, Sub Saharan Africa, Technology | Also tagged , , , , , , | Leave a comment

Bridging East Africa’ formal – informal financial services divide

Kenya’s formal inclusion looks pretty, the financial inclusion industry has been has been great at talking up its achievements over the past 10 years. Here, 75.3% of Kenyans are now formally included, a 50.3% increase from 19 years ago. Official statistics on mobile phone penetration is up to 80.5% of the population and there is general […]

Posted in Africa, Alternative currency, Cashless transactions, Cattle, Kenya, Loans, Mama Biashara, rural, Savings, Uganda | Also tagged , , , , , , , , | Leave a comment

Customer-Centric Business Model Design for Financial Inclusion

The Challenge Digital financial services (DFS) seek to bridge the chasm between the structures, policies and institutions of the formal economy, and the cash intensive informal and rural economy. Current day approaches tend to take the perspective of the service providers when assessing the market opportunity and the needs of the intended customers. And so […]

Posted in Africa, Airtime, Alternative currency, Assumption filter, Banking, Business Models, Cashless transactions, Consumer Behaviour, Design, Ecosystem, Frameworks, Innovation Planning, Mobile platform, Platforms, Prepaid Economy & Informal Sector, Process, Research, Systems, Technology, User research | Also tagged , , , , , , , , , | Leave a comment

Lessons for Formal Finance from Informal financial services

  On one of my many field explorations on rural financial services,  I found out, that for one mama biashara, as soon as payment checks in, she withdraws all her funds from her local coffee SACCO account, and spreads it out via micro-deposits across her more than 5 local informal savings groups (from right to […]

Posted in Assumption filter, Cashless transactions, Informal & Flexible, Kenya, Mama Biashara, Mobile platform, Perspective, rural, Rural Economy, Savings | Also tagged , , , , , , , , , , , | 1 Response

3 Myths of Financial Inclusion

This article has been co-authored with Michael Kimani @pesa_africa Banking the unbanked is very popular right now, as financial inclusion is seen as a key milestone on the path to development. In parallel, a plethora of “cashless” or “cash lite” solutions have begun permeating the cash intensive informal economy. These can be broadly described as […]

Posted in Alternative currency, Analysis, Assumption filter, Banking, Base of the Pyramid, Consumer Behaviour, Culture, Economy, Ecosystem, Indigenous & Traditional, Informal & Flexible, Mama Biashara, Mobile platform, Prepaid Economy & Informal Sector, Research, Rural Economy, Savings, Strategy, Systems, User research | Also tagged , , , , | Leave a comment