This archive report was first published on 16 July 2019.
Kenya's Digital Leap: Enhancing Financial Inclusion ¶
On July 15, 2019, President Uhuru Kenyatta delivered the keynote address at the inaugural Afro-Asia FinTech Festival at the Kenya School of Monetary Studies in Ruaraka, Nairobi County.
President Kenyatta highlighted Kenya's impressive successes in deploying technological solutions in various sectors, particularly in financial inclusion and public service delivery.
He noted that access to financial services in Kenya has more than tripled from 26% in 2006 to 82% in 2019, thanks to mobile phone financial services.
The President emphasized the importance of technology in enhancing financial inclusion and service delivery, citing Kenya's leading innovations such as M-Pesa, M-KOPA, M-Akiba, and Stawi.
These innovations have enabled Kenyans to access financial services, receive solar lighting, save, and invest in government securities, respectively.
President Kenyatta called on Africa and Asia to work together to build robust digital economies, urging Asian governments and companies to partner with Africa to build stronger digital bridges.
He also witnessed the signing of a Memorandum of Understanding between the Central Bank of Kenya and the Monetary Authority of Singapore to co-develop foundational infrastructure on identity, data, and electronic Know-Your-Customer procedures.
The President encouraged public and private sector partnerships to drive the growth of digital technology, a sector where Kenya plays a global leadership role.
