Advantages and disadvantages of financial inclusion
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I have already touched on the role of technology in encouraging inclusion,but allow me to elaborate.
Technological advances already have shown real results in improving access to financial services.,notably by lowering cost and extending services into areas were bank branches may not exist.
The latest findex report prepared by world bank tells an encouraging story:of all the region in the world,sub-shara africa has the highest proportion of mobile bank accounts. This offers the potential of much more rapid increase in access than the traditional banking system could not provided.
In Kenya the mobile payments service M-PESA has become an integral part of market economy and is being
extended to neighbouring countries. over the past decade the proportion of Kenyans lacking acess to financial services has fallen to 17 percent from 41 percent .now a mobil saving scheme is offering consumers as well.
Technological advances already have shown real results in improving access to financial services.,notably by lowering cost and extending services into areas were bank branches may not exist.
The latest findex report prepared by world bank tells an encouraging story:of all the region in the world,sub-shara africa has the highest proportion of mobile bank accounts. This offers the potential of much more rapid increase in access than the traditional banking system could not provided.
In Kenya the mobile payments service M-PESA has become an integral part of market economy and is being
extended to neighbouring countries. over the past decade the proportion of Kenyans lacking acess to financial services has fallen to 17 percent from 41 percent .now a mobil saving scheme is offering consumers as well.
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