Competing visions of financial inclusion in Kenya: the rift revealed by mobile money transfer

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Abstract

Financial inclusion policy has been ignited globally by the rise of money transfer services over mobile phones led by the example of Kenya. This paper examines the financial practices of low income people and the social relational dimensions of debt that underlie these transactions, and contrasts these with widely used services of informal groups and banks services. This highlights a ‘fiduciary culture’ where relationships of equality and ‘negotiability’ dominate in contrast to a tendency towards hierarchical relations with banks. This questions policy-makers’ expectations that mobile money transfer will seamlessly facilitate engagement with the formal sector for savings and credit.
LanguageEnglish
Pages83-100
JournalCanadian Journal of Development Studies
Volume37
Issue number1
Early online date31 Mar 2016
DOIs
StatusPublished - 2016

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Kenya
money
inclusion
transfer of money
bank
informal group
debt
indebtedness
transaction
savings
equality
credit
low income
income
services
policy
mobile phone

Keywords

  • microfinance, mobile money, financial inclusion, financial practices, Kenya, Africa

Cite this

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