Kenyan youth favour mobile money wallets over banks

Mobile money providers have developed products that offer interest to users who use their platforms for savings.

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Kenyan youths are favouring mobile money accounts over banks with nearly half of them not holding traditional bank accounts, a World Bank report discloses.

Forty-nine percent of youths have only a mobile account compared to 42 percent of older adults in Kenya as per The Global Findex Database published by World Bank.

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Note: The results are not exact but very close to the actual.