“If banks don’t embrace cultural change, they will be overtaken by tech companies.” So, Sir David Walker, ex-chairman of Barclays and Morgan Stanley told The Banker magazine. He might as well have been speaking about Saccos, MFI’s, telcos’ and financial technology (fintechs) too. Yes, fintechs.With the rapid changes in the financial sector, how players in
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Despite disruption in the finance sector in Kenya, it remains a global trailblazer. Saccos, banks and fintechs, should know that they are leading not following. They are charting their own path, not taking a well-trodden one. To survive (let alone thrive) they should also know that the sector has expanded to include telcos’ and fintechs
Financial Sector in Kenya, Fintechs, Fintechs in Kenya, Growth of Mswhari, KCB-MPESA, Sacco movement in Kenya, Stima Sacco and M-Pawa