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Mobile cash firms beat banks in service access

Published on June 10, 2015

Mobile money service providers have outpaced banks in enabling Kenyans to access financial services.

According to the 2014 Global Findex report released on Tuesday by the World Bank, 19 per cent of Kenyan adults are said to only operate mobile money accounts compared to only 16 per cent who deal with banks.

Development Research Group Consultant Dorothe Singer who co-authored the report, said mobile money accounts appeal to the unbanked by providing more convenient and affordable financial services. Read more. Source | Daily Nation