Financial inclusion and social development – The case of M-Pesa in Kenya

The pervasive availability of inexpensive mobile phone technology in developing countries has led to develop a number of mobile money and electronic transmittal services. The most successful of these services is Safaricom’s M-PESA program, launched the nation of Kenya in 2007. Since then, there are 15.2 million users who have transferred approximately US$1.4 trillion in electronic funds. This has strongly contributed to poverty alleviation and financial inclusion efforts in rural Kenya. This essay will show the development of M-Pesa in Kenya and the implementation of and experience with the program and what this changed for Keya nationally and internationally. Explain how does Mpesa contribute to one, or more, particular aspects of social and economic development    

Sample Solution