The success of mobile money in Kenya has been nothing short of phenomenal. People now have access to financial services as never before, such that the proportion of the population which is completely excluded from financial services is lower in Kenya than any other African country except for South Africa. The key drivers of this financial inclusion in Kenya, most notably Safaricoms M-Pesa and Equity Bank, center on a very supportive regulatory regime, innovative business models and technological advances, particularly in the mobile phone sector.

Explore the contribution of mobile money to financial inclusion in Kenya (8 Marks)

Mobile money does not directly fall under the financial sector regulatory regime. Explore the challenges and opportunities created by this position (8 Marks)

Mobile money is here to stay. Do you agree with this statement? (4 Marks)