Before 2008, analysts lamented that Kenya was performing poorly in financial inclusion.But that was before M-Pesa became appreciated as a popular money transfer technology.Research done in 2009 noted that such inclusion had risen by about six per cent in terms of people holding bank accounts, but at the same time millions had been recruited into Safaricom’s M-Pesa mobile money transfer service.Recently, Central Bank of Kenya governor Njuguna Ndung’u celebrated the coming of age of the service saying: “Mobile phone technology has in a few years of its existence demonstrated how financial inclusion can be leapfrogged on a major scale and in a short-time span using appropriate technological platforms.”

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