The GSMA recently released data showing that there are over 23 million mobile money subscribers in Kenya which is about 74% of the country’s adult population.
Mobile money has rapidly grown from a money transfer system to a payment platform supporting many financial products. The launch of M-PESA in 2007 was a critical breakthrough that provided insights on the use of mobile phone platforms to facilitate a basic payment service that could open many opportunities to increase financial inclusion in Kenya, improving the efficiency of financial services by expanding access and lowering transaction costs.
The GMSA has created an infographic representing The Kenyan Journey to Digital Financial Inclusion.
You can see the full sized image here: The Kenyan Journey to Digital Financial Inclusion