KENYA tops a new global financial and digital inclusion survey, beating 21 other countries polled.

 

The country scored 89 per cent, followed by South Africa at 80 per cent and Brazil 78 per cent, the 2015 Brookings financial and digital inclusion project report shows.

 

The American based think tank said the report and scorecard is the first of a series of annual reports examining financial inclusion activities around the world. Rwanda and Uganda tied at 75 per cent while Chile, Colombia, and Turkey scored 74 per cent each.

 

“Kenya received the highest overall score due to strong country commitment to promoting financial inclusion, high mobile capacity, an enabling regulatory environment and high adoption rates of formal financial services,” lead analysts John Villasenor and Robin Lewis said in the report. Kenya has 96 innovative services such as M-Shwari and M-Pesa that have given a major boost to financial inclusion.

 

Other countries polled include Afghanistan, Bangladesh, Ethiopia, India, Indonesia, Malawi, Mexico, Nigeria, Pakistan, Peru, the Philippines, Tanzania and Zambia.

 

Countries received scores and rankings based on 33 indicators based on country commitment, mobile capacity, regulatory environment and adoption, the analysts said.

 

“We evaluate countries on overall financial inclusion as well as each of the four component dimensions,” they added. According to the report, highest-performing countries took considerable steps in policy, regulation and technology advancement in a bid to speed progress toward financial inclusion.

 

“Kenya permits both banks and non-bank institutions, including mobile operators, to offer financial services. Its financial services sector is characterised by very high rates of mobile money usage,” it shows.

 

Source : the-star.co.ke