Tues 9th August 2022, Election Day
This is the future of business and economy. https://www.bloomberg.com/news/articles/2016-05-25/forget-credit-ratings-uber-driver-quality-ensures-loan-in-kenya
From the article Mpesa did $50b annual. If that figure is correct then kenya economy must be bigger than $70b. What's Mpesa market share of overall transactions.
With the uptake of Lipa na Mpesa basically merchant payments Mpesa volume will keep going up. Mpesa might even enable liftoff of ecommerce , Mpesa and readily available cheap transport especially for small parcels, motorcycles.
I think for me the excitement is not really in replacing the existing working payment system with Lipa na M-Pesa but the illumination of the informal/black economy sector, the bringing them on-board and the formalization of the financial & inter-mediation services will eventually lead to formalization of the whole economy - and will enable KRA for example to easily tax it (imagine if KRA was to enforce a transaction tax of say 3sh per transaction (nobody will feel it) -and you have 50m transaction daily -so that 150M per day-- 50B per annum--enough to finance Railway project every year - and enable informal sector to be able to borrow & access financial services like insurance - that they can't coz - nobody has their financial history. The elimination of cash should be soon be possible when everyone accept lipa na m-pesa! Personally I carry less and less cash although there are still sectors you can't pay digitally - matatus and whole transport sector for one -is still cash based - and that is lots of billions of cash.Quote from: hk on October 22, 2016, 01:31:31 PMWith the uptake of Lipa na Mpesa basically merchant payments Mpesa volume will keep going up. Mpesa might even enable liftoff of ecommerce , Mpesa and readily available cheap transport especially for small parcels, motorcycles.
The knowledge economy is a myth.https://www.theguardian.com/commentisfree/2016/may/18/knowledge-economy-myth-more-universities-degreeI think knowledge economy is another marketing term for ICT.