by European Investment Bank — published in 2014

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In early 2014, the European Investment Bank (EIB) and the UN Capital Development Fund (UNCDF) embarked on an eight country scoping mission in sub-Saharan Africa to study digital financial services (DFS) markets in each of the countries. The countries studied included Benin, Cameroon, Kenya, Mozambique, Nigeria, Senegal, Uganda and Zambia. Kenya is known globally as the DFS success story, where a single mobile network operator (MNO), Safaricom, launched a DFS called M-PESA in 2007. M-PESA was not the first of its kind. Prior to it, there were services already in existence in the Philippines, South Africa and Zambia, among others, but none have shown the same level of scalability and sustainability as that in Kenya. The purpose of th is study was to assess the key success factors from Kenya that led to the almost ubiquitous use of a single mobile wallet among households, and drove financial inclusion from 19 percent in 2006 to 67 percent in 2013.

NGOs, Social, Economic, Technological, Africa, digital inclusion, mobile, access to information, Kenya, business models, emerging markets