M-PESA Marches On

October 28, 2010

Financial Access Initiative Blog

Jake Kendall, Program Officer for the Bill & Melinda Gates Foundation, highlighted the work of Tavneet Suri who, along with Billy Jack of Georgetown, has been actively studying the impact of mobile banking in Kenya.  Kendall points out that some skeptics wondered if mobile banking was truly living up to its potential to reach the poor and unbanked, substantially improving their lives and providing avenues to save and store money.  According to an excerpt from the work of Suri and Jack: "We can now put to bed the question 'Will M-PESA reach the poor?' It has."  CFSP is supported by a grant to the University of Chicago from the Bill & Melinda Gates Foundation.