Recently, my grandmother went to refill her Total gas cylinder and was conned on the way. A friendly young man approached her and convinced her that the red/ orange gas cylinder was bad. He exchanged it for a beige one that was of ‘better quality’. My grandmother profusely thanked the guy, believing he had saved […]
Category: Uncategorized
What’s the value of your financial pre-commitments?
There are various profit-driven business models in the market competing for our money. Free basic products that promise value if upgraded to a premium account, recurring low subscription payments, status signalling goods that we can buy in instalments, cheap fast fashion with a short life span, that daily Starbucks coffee amongst others. Such commitments are […]
Economic Inclusion at Base of Pyramid
According to Kenya Economic Report 2020, national access to financial inclusion in Kenya is at 82.9 percent, an improvement from 26.7 percent over the past decade. This is a great feat for our country. Access to credit has also increased due to the numerous digital loans available in the market. However this is only helpful […]
Peer learning key to financial literacy at BoP
Jane* a 36 year old mother of two lives in a rural town in Central Kenya on an eighth of an acre. She farms coffee beans for sale. Depending with the season, she plants either maize, beans or potatoes just enough for consumption at home. She also does casual jobs in the neighbourhood where the […]
The lure of consumer debt for the young working class
A few years ago, most of us had ‘informal creditors’ amongst our friends. These were people we would call at odd hours for ‘Mpesa’ and in five minutes they would send the cash. No judgement or questions on why you need the money and due to mutual respect, they would not soil your reputation by […]
Effect of low interest rates to the young working class
We were all in a celebratory mood when the CBK governor announced the capping of interest rates for banks. Some of us (bankers) in hushed tones due to the definite conflict of interest. I was working for a local bank and we mourned that decision for days! How could we meet our targets bearing […]