The first article in a blog series examining the Kenyan credit market by FSD Kenya drew an analogy between the recent forest fires in the Amazon Jungle and the explosion of digital credit in Kenya. Just like putting out the forest fires is not equivalent to solving the problem of climate change, there are wider […]
On November 19th, FSD Kenya’s Annual Lecture will be held under the theme ‘Financing Kenya: 2020 hindsight for Vision 2030’. The idea of ‘financing Kenya’ is interesting because if one were to have a discussion on the state of the economy in Kenya, inevitably money (or the lack of it) will come up. Whether it […]
This week is financial inclusion week, a good moment to take stock of the multibillion dollar ‘fortune at the bottom of the pyramid’ that has been so successfully reaped by the financial inclusion industry. It is also the Making Finance Work for Women Summit in Singapore hosted by Women’s World Banking, a good moment to […]
Natasha is a young woman who has a cake baking business on the outskirts of Nairobi. She has a bank account for her business which she uses intensively. Natasha’s business was doing well and she needed a loan to expand. She approached her bank manager, only to be advised that she should not consider getting […]
Combining education, apprenticeship, and start-up capital to surmount barriers and transform trajectories When Vincent completed high school, he dreamed of going to college and becoming a teacher or an accountant, to work in a job that engaged his mind and his love of math. However, he lacked the means to pay for further education and […]
The focus on the potential and real risks of digital credit, while commendable, runs the risk of taking our collective eye off the wider credit market, which has a much more significant impact on Kenya’s economy.
The use of an alert system that flagged Twitter conversations on consumer protection topics, when they rose above certain thresholds, shows promise as a new consumer protection market monitoring tool that we could use in Kenya to address the substantial gaps in consumer protection monitoring and enforcement.
As more and more Kenyans share their issues with financial services on social media, a new evidence base is being created that can help providers and government to better measure, monitor and resolve consumer protection problems.
Manufacturers of cars or microwave machines are duty bound to ensure that their products are safe for use. Why can’t financial regulation introduce a similar obligation to ensure financial products and services are not negligently developed and sold, causing harm to consumers?