M-Pesa: The innovative money transfer that has changed the banking sector in Kenya

"Nowadays, I do not carry cash with me because of M-Pesa. I can pay the school fees of my children and all my bills, such as electricity and water at the comfort of my home"

In a country with a population of about 45 million people, the number of subscription in Kenya has surged from 330,000 in 2001 to 38 million in 2016. At the moment, 7 in 10 adult Kenyans have a mobile phone.

This rise of mobile phones has acted as a game changer in the banking sector where people have moved from the physical banking system to the mobile phone "M-Pesa" banking system.

According to a customer, "Nowadays, I do not carry cash with me because of M-Pesa. I can pay the school fees of my children and all my bills, such as electricity and water at the comfort of my home."

Bob Collymore, the chief executive of Safaricom says, "I have not carried any cash with me for three weeks."

One of the ways that the M-Pesa technology has truly changed the lives of people is its ability to send money to people in the rural areas where the banking sector is not available.

The only problem with the technology is that the charges are still high for the people who are living in the rural areas. However, because of competition from other mobile networks, such as Airtel and Orange reducing their charges, Safaricom may experience a reduction in its M-Pesa users.

Currently, Safaricom has been reducing its charges, but they are still high compared to competitors. The future is bright for M-Pesa as more people are becoming aware of the technology and registering for the service.

Comments

Nyama Choma Recipe

Preparing Nyama Choma Nyama choma is roasted meat and is extremely popular because of the availability of cheap meat in the country. It is usually served in adult parties with beer. Ingredients 1. Salt and pepper to taste 2. 3 pounds beef short ribs Steps to follow Start by seasoning the ribs with salt and pepper. Get a grill with charcoal or gas over medium high heat and grill for 1 hour. If you are not comfortable with the grill, try using the oven as an alternative and live it there at about 300 F for one and a half hours. The meat should be ready, just use your good judgment. Serve with Ugali

Kenya Tribes

Kenyan Tribes In Kenya, like in other major African Nations, many tribes are living together and in this country there are 52 tribes Hunters Gatherers Dahalo, El-Molo, Ndorobo, Sanye Bantu Ovest Luhya, Kisii, Kuria, Gusii Centro Kikuyu, Kamba, Meru, Embu, Tharaka, Mbere, Mijikenda, Taveta, Pokomo, Taita, Digo, Giriama, Duruma Niloti Paraniloti Niloti Luo Teso Iteso, Turkana Maasai Maasai, Samburu, Njemps Kalenjin Nandi, Kipsigis, Elgeyo, Sabaot, Marakwet, Tugen, Terik, Pokot Cushiti Somali, Rendille, Galla, Boni, Borana, Gabbra, Orma, Sakuye Swahili Bajun, Pate, Mvita, Vumba, Ozi, Fundi, Siyu, Shela, Amu If I would talk about every tribe it would take years. I shall limit myself, therefore, and I shall give you a short account of the customs of some of the tribes. These are the customs, which with time I learned from the local population, and I consider of particular interest.

Sun King: 1 solar panel 1 battery 3 solar bulbs and charging port for mobile phones

Sun King is an innovative company in Kenya that sells quality solar energy solutions in Kenya for the purpose of reducing the reliance on the expensive source of fuel, such as kerosene and candles. The company comes at time when: "It is estimated that about 73 per cent of Kenyans live within 1-kilometre (0.6 miles) distance of a power transformer, yet only 18 per cent are connected to the grid. At its most basic level, Africa's energy poverty means there is often no electricity to power lights to study or to work at night. It also means no access to safer electric cooking and heating, powered health centers, or electricity to run a business." Lilian Mutegi As such, the Sun King solar energy solution as shown below in the photo includes a solar panel, three bulbs, and one rechargeable battery. Advantage One staff member on Facebook says, "One of the biggest advantages of solar energy is the ability to avoid the politics and price volatility that is increasi...

Kenya Knowledge

Search This Blog