What Kenya can teach its neighbors — and the US — about improving the lives of the “unbanked”

From Kelsey Piper / Vox: Mobile banking in Kenya has increased economic mobility for families living in poverty. The mobile money system is not connected to bank accounts, making it accessible to the overwhelming majority of Kenyans who don’t have bank accounts but do have cell phones. Mobile banking allows deposits and withdrawals as well as transfers, and has allowed families to save money to use when their income, often from farming, takes a hit thus creating a security net for themselves and allowing them to receive funds from friends and family. Savings allow families to meet basic needs and access medical care if necessary.

Read the original story here.

Issue Areas:

Financial Institutions, Poverty Reduction Measures, Public Banking, Technology

Impact Areas:

Equity

Actors:

Lending, Banking, and Financial Institutions, Workers / Labor Unions

Communities Served:

Communities Experiencing Economic Hardship, Rural Communities, Workers

Strategies:

Collective Action, Designing Culturally Specific Solutions

Success Factors:

Building Distribution Systems, Eliminating Barriers, Empowering People, Expanding Access, Leveraging Technology, Meeting People Where They Are At, Overcoming the Big Challenges, Using A Comprehensive Approach

Geographic Region:

Africa

Countries:

Kenya

Date:

September 11, 2020

More Resources:

Conversation with Antonio Lyons

Antonio Lyons, Director of Georgetown University’s Racial Justice Institute’s EnActors, is a multi-disciplinary artist and Applied Theatre Practitioner blending poetry, music, and movement. A Fulbright Awardee and Oregon Shakespeare Festival Producing Fellow, he created We Are Here, a social activism...

Conversation with Tasnim Elboute

Tasnim Elboute coordinates the High Atlas Cultural Landscapes Programme of the Global Diversity Foundation, focusing on biodiversity conservation and sustainable livelihoods to advance community-led development and environmental justice in Morocco. She plays a key role in fostering partnerships and implementing...

4-Day Workweek Boosted Workers’ Productivity By 40%, Microsoft Japan Says

From Bill Chappell / NPR: Microsoft Japan experimented with a 4-day work week over the summer. Employees enjoyed three-day weekends but received normal paychecks. The company reported a 40% boost in productivity. Read the original story here. Read more work-focused...

Conversation with Gopal Patel

Gopal Patel is the co-founder and director of Bhumi Global, a non-profit mobilizing Hindu communities worldwide for environmental action. Over the last decade, he has advised global interfaith and environmental initiatives, working to include faith voices in local and international...

Can Guaranteed Income Prevent Gentrification?

From Oscar Perry Abello / NextCity: In Louisville, community organizers are betting that a guaranteed income program will reduce community violence in disinvested neighborhoods – and protect against displacement of residents. Read the original story here. Find other articles about...

Conversation with Yuliya Panfil

Yuliya Panfil is a senior fellow and director of New America Future of Land and Housing program. Prior to joining New America, Panfil worked at Omidyar Network, where she sourced and managed property rights investments, and as a land governance...