1. Promoting Mobile Money Services in Kenya and the Region
CENTRAL BANK OF KENYA
Promoting Mobile Money Services in Kenya and the Region
Prof Kinandu Muragu Executive Director Kenya School of Monetary Studies
Godfrey Kyama
Commonwealth eBanking Advisor
Kenya School of Monetary Studies

2. Contents Background Government Role Regulation National Payment System
Customer Protection Framework
Conclusion

3. Background M-Pesa – the word Evolution, Revolution and Innovation
Mobile Money and M-Pesa
M-Kesho

4. Government Role Government attitude  Kenya Communication Act
Private sector role
Impact:

5. Regulation Very innovative Financial inclusion Impact: outlets
Bank of Africa 1
Barclays Bank of Kenya 64
Commercial Bank of Africa
Chase 15
Consolidated 9
Co-operative 83
Eco Bank 12
Equity 22
Family 53
Gulf 10
Housing Finance 7
Imperial
KCB
157
KFWT
NBK
TOTAL
461 6

6. National Payment System
Safe and Efficient
Amended CBK Act
National Payments System Bill
Agent Banking
Proceeds of Crime and Anti-Money Laundering Act
Impact: Financial Inclusion!

7. Cont’d: National Payments System
Source: Central Bank of Kenya 2012

8. Cont’d: National Payments System
Volume of mobile money transactions increasing steadily
Source: Central Bank of Kenya 2012

9. Cont’d: National Payments System
Source: Central Bank of Kenya 2012

10. Consumer Protection Framework
Consumer and Deposit Protection
Competition and interoperability
Consumer protection and innovation
Consumer protection regulation?
Rules of the game?
Consumer rights?
Consumer protection law

11. Conclusion Rapid and dramatic mobile money Kenya is world leader
Nesting ground for mobile money
Technology and the poor
An agent of financial inclusion
Policy makers + Regulators
Innovation and market access