Kenya: Selected Issues

October 23, 2018

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Kenya: Selected Issues, (USA: International Monetary Fund, 2018) accessed December 22, 2024

Summary

This Selected Issues paper analyzes Kenya’s success in boosting financial inclusion. Kenya has become a regional and global leader in mobilizing new technologies to advance financial inclusion, poverty reduction, and growth. The rapid progress of financial inclusion in Kenya has been a result of a friendly environment for the absorption of information technology, dynamic local banks, and open and stable regulations. Advances in financial inclusion over the past 10 years have allowed Kenyans to reap many of the benefits of financial access at a much faster pace than the typical cycle of financial deepening in low- and middle-income countries. Mobile financial services have lowered the transaction cost of remittances, allowing Kenyan households to smooth consumption in the face of shocks and significantly reducing poverty.

Subject: Bank credit, Banking, Credit, Double taxation, Financial inclusion, Financial markets, Interest rate policy, Monetary policy, Money, Taxes

Keywords: Africa, Bank, Bank credit, CR, Credit, Double taxation, Financial inclusion, Foreign currency, Global, Interest rate, Interest rate control, Interest rate policy, ISCR, Kenya, Kenya's NFCS, Lending rate, Money, NFCS credit, Remittance transaction, Transaction cost

Publication Details

Pages:

65
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/296
Stock No:

1KENEA2018003
ISBN:

9781484381342
ISSN:

1934-7685

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