Abstract: This paper examines the factors which are driving increased financial inclusion in Kenya, and poses the question whether increasing accessibility and competition will of itself be sufficient to continue to extend financial services to the very poor. The paper discusses the extent to which recent advances in the Kenyan financial system meet the Principles for Expanding Financial Access developed by a Task Force organized by the Center for Global Development.
Overview: Worldwide, financial access has become an increasingly important development metric, as one of the factors which can drive widespread economic development. This paper deals with Kenya’s advances and challenges to improve financial inclusion. The paper is part of a series of studies conducted under the Centre for Global Development (CGD) project on Financial Access. Based on an analytical framework prepared by a CGD Task Force entitled “Policy Principles for Expanding Financial Access,” the CGD project analyses and assesses the most important programs and innovations that are being implemented in a select number of countries around the developing world. Click here to read more…
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