Agent banking growing rapidly

[RV Pundit]

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http://www.standardmedia.co.ke/brandingvoice/kcb/article/17/cbk-kenyan-banks-record-growth-in-agency-banking-model

[Nefertiti]

Incredible. Transactions have grown thrice compared to amount (440% v 170%). Implies a uptake by less liquid folks for smaller transactions like goat selling and paying kanjo. One would imagine a more competitive correlation with mobile but there seems to be enough business to go around.
 

http://www.standardmedia.co.ke/brandingvoice/kcb/article/17/cbk-kenyan-banks-record-growth-in-agency-banking-model

[RV Pundit]

Yeah - the story about dude in Isiolo or Marsabit selling his goats and banking the money in the market via bank agent - is incredible stuff !  This is what Moonki and Windy will not understand even if I posted images. And this is just the start of transformation....

Incredible. Transactions have grown thrice compared to amount (440% v 170%). Implies a uptake by less liquid folks for smaller transactions like goat selling and paying kanjo. One would imagine a more competitive correlation with mobile but there seems to be enough business to go around.

[hk]

Cooperative bank has literally put agents in the banks to collect cash deposits. The bank no longer accepts deposits through tellers. Agency banking and Mpesa banking integration have greatly increased financial services availability.

[MOON Ki]

Yeah - the story about dude in Isiolo or Marsabit selling his goats and banking the money in the market via bank agent - is incredible stuff !  This is what Moonki and Windy will not understand even if I posted images.

Don't understand what?    I'm prepared to believe that dudes in Isiolo or Marsabit are selling goats and banking money in the market via bank agent.     And I have no doubt that it's "incredible stuff"! (Some terms are "relative" .... ).   What's more, I'm all for it! ... people making money out of goats and doing suchlike "incredible stuff!".  Troglodytes excepted, who wouldn't be gung-ho for that sort of thing?

[MOON Ki]

http://www.standardmedia.co.ke/brandingvoice/kcb/article/17/cbk-kenyan-banks-record-growth-in-agency-banking-model

Agent banking growing rapidly, eh?   Reminds me of one of your statements on this thread:

http://www.nipate.org/index.php?topic=3401.0

in which you stated that:

As for m-pesa & banking agent jobs - all you need to find out is how many safaricom and airtel agents are out there - last I checked there were 150,000 in Safcom alone - and way bigger number than that -  That 200K is understatement considering banks have way more agents than that.All those are example of new jobs.

http://www.nipate.org/index.php?topic=3401.msg24767;topicseen#msg24767

I asked and asked and asked:

One more time: what are the sources for the numbers you give?

I never got an answer, but this latest "incredible-stuff!" example of yours gives us some idea:

As at March 31, there were 17 commercial banks that had contracted 40,224 agents

http://www.standardmedia.co.ke/brandingvoice/kcb/article/17/cbk-kenyan-banks-record-growth-in-agency-banking-model

(And, yes, I have looked also looked into numbers at Safaricom etc.)

[RV Pundit]

Simplistic reasoning. According to you one agent employ one person. There are agents with more than 100 people employed. I am sure if you continue googling you can find how many M-pesa and Agency banking is employing...200K is understatement.

Just as I predicted you also don't understand the transformation m-pesa and agent banking is doing in remote places for the individual families, the banks and economy in general.

http://www.standardmedia.co.ke/brandingvoice/kcb/article/17/cbk-kenyan-banks-record-growth-in-agency-banking-model

Agent banking growing rapidly, eh?   Reminds me of one of your statements on this thread:

http://www.nipate.org/index.php?topic=3401.0

in which you stated that:

As for m-pesa & banking agent jobs - all you need to find out is how many safaricom and airtel agents are out there - last I checked there were 150,000 in Safcom alone - and way bigger number than that -  That 200K is understatement considering banks have way more agents than that.All those are example of new jobs.

http://www.nipate.org/index.php?topic=3401.msg24767;topicseen#msg24767

I asked and asked and asked:

One more time: what are the sources for the numbers you give?

I never got an answer, but this latest "incredible-stuff!" example of yours gives us some idea:

As at March 31, there were 17 commercial banks that had contracted 40,224 agents

http://www.standardmedia.co.ke/brandingvoice/kcb/article/17/cbk-kenyan-banks-record-growth-in-agency-banking-model

(And, yes, I have looked also looked into numbers at Safaricom etc.)

[RV Pundit]

More financial innovation linking local payment to global payment systems.
http://www.businessdailyafrica.com/Corporate-News/539550-3390160-d2e03o/index.html

[MOON Ki]

Simplistic reasoning. According to you one agent employ one person. There are agents with more than 100 people employed. I am sure if you continue googling you can find how many M-pesa and Agency banking is employing...200K is understatement.

The issue was the number of agents.   Here is what you wrote:

200K is understatement considering banks have way more agents than that.

Seems clear enough.   Nothing to do with how many people each agent might employ.

And the figures I gave are  not according to me: "As at March 31, there were 17 commercial banks that had contracted 40,224 agents" are not my figures.   And, yes, I have already googled around.

Just as I predicted you also don't understand the transformation m-pesa and agent banking is doing in remote places for the individual families, the banks and economy in general.

Actually, I understand all that.    What does that have to do with your claim  on numbers?

[RV Pundit]

Nitpicking as usual. We were talking employment in new sectors. Try for once to look at big picture...and quit trying to go for commas..FOCUS on the big picture. BIG PICTURE thinking. You're way too small minded I am afraid. When I throw figures.. I am throwing ballpark estimates from my memory...this is a pesa nane forum...not an academic conference. I don't even edit my typos..unless they are that bad.Ohoo boy debating you is a really drag.

Now you want me to give your exact number of new employment in financial services....m-pesa agents, airtel money agent, mobikash, banking agents, name many other guys in that space!!!!!!!!!!!!!!!!!!!!!!!!!!!!

How will that help your case...when I know they are more or about 200k  kenyans now working as mpesa, airtel, mobikash, etc, equity or name them agents offering financial services & earning salaries in form of commissions- maybe better than our teachers!The point remain..that our financial service (ADVANCED financial services) has created HUNDREND THOUSANDS new jobs that were not there 10yrs ago.

Simplistic reasoning. According to you one agent employ one person. There are agents with more than 100 people employed. I am sure if you continue googling you can find how many M-pesa and Agency banking is employing...200K is understatement.

The issue was the number of agents.   Here is what you wrote:

200K is understatement considering banks have way more agents than that.

Seems clear enough.   Nothing to do with how many people each agent might employ.

And the figures I gave are  not according to me: "As at March 31, there were 17 commercial banks that had contracted 40,224 agents" are not my figures.   And, yes, I have already googled around.

Just as I predicted you also don't understand the transformation m-pesa and agent banking is doing in remote places for the individual families, the banks and economy in general.

Actually, I understand all that.    What does that have to do with your claim  on numbers?

[RV Pundit]

Okay according to CA (comm authority) the number of mobile agents over the same period grew to 135,724 active agents from 129,357 agents - as of last year. Add to 40,000 banking agents (according to CBK). And that makes 180,000. Are you happy now??? -or you need me to show you the remaining 20k Those working with Safaricom earned on average 12K from 11k last year in commission. I am sure those working with banks made even more dough.

Perhaps you want to look at co-operative sector (Saccos & the works) where kenya truly kick arse globally- another financial services - that tell us kenya doesn't have to make stuff to develop -if she remain smart, innovative and entrepreneurial.

Do you want to explore how co-operative or saccos are helping Matatus industry (informal) to formalize into modern transport & logistics services like you'd have in developed world...these baby steps by gov and matatu industry...will eventually mean a tout and driver is formally employed just like US truck driver.

Or you want to debate commas?

[MOON Ki]

Okay according to CA (comm authority) the number of mobile agents over the same period grew to 135,724 active agents from 129,357 agents - as of last year. Add to 40,000 banking agents (according to CBK). And that makes 180,000. Are you happy now???

No, I'm not happy.    Here is what you wrote:

200K is understatement considering banks have way more agents than that.

Your 200K claim is for banking agents; so  I don't see how it helps to drag in all the other agents you can find.

Do you want to explore how co-operative or saccos are helping Matatus industry (informal) to formalize into modern transport & logistics services like you'd have in developed world...these baby steps by gov and matatu industry...will eventually mean a tout and driver is formally employed just like US truck driver.

I'm happy to explore anything, but can we do it on the basis of facts, rather than stuff people just dream up on the fly.

[RV Pundit]

Agency banking started 2-3 yrs ago and by the time you're done checking all my commas- they'll be more than 200k bank agents earning some commission enough to feed their families.

[Empedocles]

[Nefertiti]

Yes Empo we are used to this 

[MOON Ki]

Yes Empo we are used to this 

Missing comma: put one right after "Empo".