Mshwari continues to scale the heights of financial innovations.

[RV Pundit]

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In mere 2yrs.......
Sh29 billion in loans disbursed
shs153 billions in deposits.
50,000 applications processed daily.
10M customers..overtaking Equity's 9M.

http://www.nation.co.ke/business/-/996/2643866/-/jtr31j/-/index.html

[vooke]

We had this discussion before, this thing only works in Kenia

[gout]

we need more solutions which can work in peculiar Kenia in other sectors -agriculture, manufacturing, education, housing, health, security - the financial & ICT sector have shown it is possible

We had this discussion before, this thing only works in Kenia

[RV Pundit]

I don't remember that; why won't it work anywhere else; everywhere i know; folks need hassle free banking like mshwari provide..easily open an account (leveraging sim registration), start saving and borrowing...all from your phone..anywhere there is a network. Banks similarly need to collect deposit (now 150Bob) and lend money responsibly by leveraging tonnes of behavioural data that safaricom has collected...7% interest monthly on 29b...is lots of cash.

We had this discussion before, this thing only works in Kenia

[MOON Ki]

In mere 2yrs.......
Sh29 billion in loans disbursed
shs153 billions in deposits.
50,000 applications processed daily.
10M customers..overtaking Equity's 9M.

http://www.nation.co.ke/business/-/996/2643866/-/jtr31j/-/index.html

Those are some very big numbers.  So, in the last 2 years, how's life been improving for the average Kenyan?   (I just noticed the warning on imminent starvation.)

[RV Pundit]

And who is the average kenyan to you? Perhaps you can take the assignment and tell us how Mshwari has not impacted hunger [ i guess the 29B being borrowed is buying ?? anything but food]. You may deride Mshwari but you'll be suprised that it actually saves  a lot of lives for folks living in turkana or mandera...with relatives in nairobi...more than USAID's yellow maize will ever do.

In fact it thanks to MPESA/MSHWARI that most NGOS and donors use to quickly do cash transfer to people in distress including those starving..that we are handling such disasters better..without it..it would take at least 3 months for yellow maize to be ordered all the way to chicago...to mombasa warehouses..get loaded to trucks...and then 30 day journey to turkana...and then another 5 days to Kainuk..and by then it's too late.

You can check MIT work on M-PESA if you're not being your usual petty self.
http://www.mit.edu/~tavneet/M-PESA.pdf
http://www.mit.edu/~tavneet/M-PESA_Update.pdf
Stop being petty and engage your brain for once.

Those are some very big numbers.  So, in the last 2 years, how's life been improving for the average Kenyan?   (I just noticed the warning on imminent starvation.)

[MOON Ki]

And who is the average kenyan to you? Perhaps you can take the assignment and tell us how Mshwari has not impacted hunger [ i guess the 29B being borrowed is buying ?? anything but food]. You may deride Mshwari but you'll be suprised that it actually saves  a lot of lives for folks living in turkana or mandera...with relatives in nairobi...more than USAID's yellow maize will ever do.

I am not deriding the Great Mshwari.     I am merely curious: I take it that the fellow is going great things there.   Yet, just last week I read in the national newspapers articles (accompanied by the standard-issue grim photos) of yet more imminent, standard-issue  starvation.

So take mine as a bit of curiosity: why get so excited over "financial innovations" when people continue to starve, poverty is barely changed, etc.   

In fact it thanks to MPESA/MSHWARI that most NGOS and donors use to quickly do cash transfer to people in distress including those starving..that we are handling such disasters better..without it..it would take at least 3 months for yellow maize to be ordered all the way to chicago...to mombasa warehouses..get loaded to trucks...and then 30 day journey to turkana...and then another 5 days to Kainuk..and by then it's too late.

That's interesting.    I  thought it was your position that these NGOS/donors do bugger-all for "people in distress".   Should I take it that they now do something, but MPESA should be thanked for that?

[RV Pundit]

In short, you're just ignorant on how the various sectors or facets of development are interlinked.

Let try a simple example. Moonki is a watchman from turkana working in Nairobi. He receive a call that his relatives are starving and badly need 2k to buy a sack of maize...Moonki doesn't have any money being mid-month and so he borrows using his nokia feature phone from CBA's Mshwari 2K..within minutes..the loan is approved..and he send the 2K...money reaches his relatives within 10mins...armed with their phone..they walk to nearest posho mill and buy enough unga..to last the a month till the rain start falling again. At end month...CBA deducts 2K plus small interest.  Now imagine the same scenario in place like Tazania or Uganda without Mshwari? A Turkana living across the border in South Sudan has to wait for yellow maize to arrive months later or for the watchman to use 5,000ks (fare to turkana and back)..to deliver 2k.

So financial innovations like this are to be CELEBRATED..not derided.

Besides how does a story on Mshwari become remotely related to 1M drought stricken people in Northern Kenya?

Once again engage your brain and you'll realize why MPESA/MSWHARI plus many financial innovation emanating from poverty stricken kenya are being celebrated and copied accross the world.

Ohoo we are not suppose to celebrate anything until nobody is starving in the world

And who is the average kenyan to you? Perhaps you can take the assignment and tell us how Mshwari has not impacted hunger [ i guess the 29B being borrowed is buying ?? anything but food]. You may deride Mshwari but you'll be suprised that it actually saves  a lot of lives for folks living in turkana or mandera...with relatives in nairobi...more than USAID's yellow maize will ever do.

I am not deriding the Great Mshwari.     I am merely curious: I take it that the fellow is going great things there.   Yet, just last week I read in the national newspapers articles (accompanied by the standard-issue grim photos) of yet more imminent, standard-issue  starvation.

So take mine as a bit of curiosity: why get so excited over "financial innovations" when people continue to starve, poverty is barely changed, etc.   

In fact it thanks to MPESA/MSHWARI that most NGOS and donors use to quickly do cash transfer to people in distress including those starving..that we are handling such disasters better..without it..it would take at least 3 months for yellow maize to be ordered all the way to chicago...to mombasa warehouses..get loaded to trucks...and then 30 day journey to turkana...and then another 5 days to Kainuk..and by then it's too late.

That's interesting.    I  thought it was your position that these NGOS/donors do bugger-all for "people in distress".   Should I take it that they now do something, but MPESA should be thanked for that?

[MOON Ki]

Besides how does a story on Mshwari become remotely related to 1M drought stricken people in Northern Kenya?

Oh, that one's easy: I'm wondering why folks are jerking off over "financial innovations" when their brethren are starving.  Me, myself, personally, I'd rather have something to eat first ... hear great stories about the production of food, the supply of clean water, and that sort of thing.  Whether MPESA (or whatever) is being copied all the way to Jupiter (and beyond) is something I will definitely take a closer look at---but only later, much later.

[RV Pundit]

That silly. Out 44m kenyans..only 1M or less are starving..but based on your logic we should stop press and focus on them? The 1-2% starving? How about those of us who have enough food, clean water and all the amenities..and are badly in need of financial solutions like Mshwari.

Engage your brain.  Mshwari is PART OF SOLUTIONs to "production of food" or "provision of clean water"....all those require MONEY..FINANCE..that has go through modern banking and financial solutions..like Mshwari.

Beside if folks are starving..who is saving 290B in 2yrs?????????????????? I bet the same starving people if they had MSHWARI would have saved during the rain day..and now when rain fail..they would be borrowing from CBA...leveraging their savings. Right now they are watching their mode of savings (large herds of sheep, cattle and camels) die...only if they had simple banking solutions without hassle...they would be better prepared to deal with such shocks.

ENGAGE YOUR BRAIN.

Oh, that one's easy: I'm wondering why folks are jerking off over "financial innovations" when their brethren are starving.  Me, myself, personally, I'd rather have something to eat first ... hear great stories about the production of food, the supply of clean water, and that sort of thing.

[MOON Ki]

That silly. Out 44m kenyans..only 1M or less are starving..but based on your logic we should stop press and focus on them? The 1-2% starving?

Kenya's future depends on those that are now growing up.   Last I looked, a surprisingly large number of Kenyan children were either (a) dying from easily preventable diseases or (b) suffering stunted physical and mental growth because of poor nutrition.    And it's being going on for quite some time.   So, yes: I think someone should "should stop press and focus on them", as you so eloquently put it.

How about those of us who have enough food, clean water and all the amenities..and are badly in need of financial solutions like Mshwari.

I say "good for you!".   But, as I have indicated above, I am not particularly concerned with the "those of us", especially given that Kenya has always been run on the basis of "those of us who are doing just fine".

[RV Pundit]

I guess i shouldn't go watch Arsenal thrash Man utd  in next few minutes until we solve what you've identified as crucial issues!!!. Tough luck. This is about financial innovation. This is a great story about MSHWARI.

That silly. Out 44m kenyans..only 1M or less are starving..but based on your logic we should stop press and focus on them? The 1-2% starving?

Kenya's future depends on those that are now growing up.   Last I looked, a surprisingly large number of Kenyan children were either (a) dying from easily preventable diseases or (b) suffering stunted physical and mental growth because of poor nutrition.    And it's being going on for quite some time.   So, yes: I think someone should "should stop press and focus on them", as you so eloquently put it.

How about those of us who have enough food, clean water and all the amenities..and are badly in need of financial solutions like Mshwari.

I say "good for you!".   But, as I have indicated above, I am not particularly concerned with the "those of us", especially given that Kenya has always been run on the basis of "those of us who are doing just fine".

[RV Pundit]

KCB want in too.
http://www.businessdailyafrica.com/Corporate-News/KCB-signs-M-Pesa-loans-deal-to-drive-mobile-banking-/-/539550/2649094/-/koave0z/-/index.html

[Mr Mansfield.]

You keep repeating the same thing,this is no longer news or something worth debate as pastor vooke has just told you....tell us something new instead of regurgitating the same nonsense,

Without Prejudice.

[vooke]

Aks Omorlo,
Fact is it has flopped in South Africa, Hungary too and just about anywhere outside our borders. This thing is peculiarly Kenian

I don't remember that; why won't it work anywhere else; everywhere i know; folks need hassle free banking like mshwari provide..easily open an account (leveraging sim registration), start saving and borrowing...all from your phone..anywhere there is a network. Banks similarly need to collect deposit (now 150Bob) and lend money responsibly by leveraging tonnes of behavioural data that safaricom has collected...7% interest monthly on 29b...is lots of cash.

We had this discussion before, this thing only works in Kenia