Opinion & Analysis
Will the real banks, please stand up?
An M-Pesa dealer assists a client to transfer money. Though Safaricom has some distinct advantages in the mobile money space, if banks move quickly to embrace the new channels they have the potential to offer a more complete banking solution. /Fredrick Onyango
Such an institution would likely be a bank or a partnership between a bank and an MNO as it is this kind of partnership that would solve the infrastructure access challenges that a purely bank-led system might face without intervention from communications regulators.
The question is, can a Kenyan bank move quickly enough to develop and adopt the platforms necessary to take advantage of this opportunity while it exists?
The writer is a Master’s of International Business student at Fletcher School, Tufts University. Email:
toru.mino@tufts.edu
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