Latest Economy of Kenya Stories

CAPE TOWN, South Africa, Nov. 13, 2012 /PRNewswire/ -- The GSMA today revealed that sub-Saharan Africa is the fastest-growing mobile market in the world, with a prodigious average annual growth rate of 44 per cent since 2000(1). Mobile connections have leapt to 475 million, compared to just 12.3 million fixed line connections, representing the highest proportion of mobile versus fixed line connections in the world. With necessary spectrum allocations and transparent regulation, the...

CHICAGO, May 23, 2011 /PRNewswire-USNewswire/ -- Many developing countries are rapidly adopting cellphone technology as a means for delivering financial services to their citizens without a heavy investment in infrastructure. Now, a team of researchers from Massachusetts Institute of Technology and Georgetown University says important economic considerations loom on the horizon for policymakers, mobile banking companies and central banks. (Logo:...

CAMBRIDGE, Mass., March 28, 2011 /PRNewswire/ -- In Africa, mMoney operator revenue as a percentage of total operator revenue will continue to rise to more than 5 percent in 2015, representing a nearly $3 billion opportunity, according to a new report from Pyramid Research (www.pyr.com). Mobile Money in Africa: A Big Revenue Opportunity for Network Operators will outline the current demand for mMoney services and the potential benefits that mobile money services could bring to MNOs and...

Research finds more than two"thirds of households in the country use the technology Cambridge, MA (Vocus/PRWEB) March 03, 2011 As the developed world begins its recovery from the global economic meltdown, the financial architecture in parts of the developing world is being rapidly transformed by a mobile payment system that enables people to deposit, send, and withdraw money with a push of a few buttons. Established in 2007, the sms-based service, known as M-PESA, has enabled Kenyans...

Conventional wisdom has long been negative on Africa. Historically, it has been seen as a failing continent, plagued by deep-rooted problems "” poverty, corruption, war, and disease. But after four decades of relative stagnation, Africa has been growing rapidly. Since the 1990s, many African countries have seen economic and political improvements, more transparent elections, increased democracy and freedom of press. But these successes are not well understood.In 2007, the National Bureau of...

CAMBRIDGE, Mass., Oct. 6 /PRNewswire/ -- The total value of mobile money transfers in Africa will exceed US$200 billion in 2015, almost 8 percent of Africa's nominal GDP due to users' growing trust in the system and a wider range of services, according to a new report from Pyramid Research (www.pyr.com). Mobile Financial Services in Africa: MNO Business Models and Market Forecast provides an in-depth, up-to-the-moment analysis of mobile financial services in Africa, focusing on the...

RIO DE JANEIRO, May 25, 2010 /PRNewswire/ -- The GSMA announced the details of a further seven grantees from the Mobile Money for the Unbanked (MMU) Fund, which is administered by the GSMA Foundation, Inc. with funding from the Bill and Melinda Gates Foundation. New grantees are Cellcard in Cambodia, Digicel in Fiji, Orange in West Africa, Safaricom in Kenya, Tata Indicom in India, Telenor in Pakistan and Tigo in Africa. "Just 15 months after we first announced the launch of the...

HONG KONG, November 18 /PRNewswire/ -- The GSMA, the body that represents the worldwide mobile communications industry, today revealed the details of six additional grants from the Mobile Money for the Unbanked Fund (MMU), which is administered by the GSMA Foundation, Inc. New grantees include AKTEL in Bangladesh, Dialog Telekom PLC in Sri Lanka, Grameenphone Ltd in Bangladesh, MTN Cameroon, MTN Uganda and Vodacom Tanzania. Grants are available for projects promoting the uptake of...

LONDON, September 16 /PRNewswire/ -- - GSMA Closer to Goal of Creating Financial Security for 20m Unbanked by 2012 The GSMA, the body that represents the worldwide mobile communications industry, today announced the details of the first four recipients of grants from the Mobile Money for the Unbanked Fund (MMU), which is administered by the GSMA Foundation, Inc., with funding from the Bill & Melinda Gates Foundation. The first operators who will receive grants are...

U.S. industrial production slowed sharply in January as the recession deepened into the first quarter, the U.S. Federal Reserve said Wednesday. Manufacturing fell 1.8 percent in the month, following a 2.4 percent decline in December. Although production is 101.3 percent of its 2002 average, production in January was 10 percent below January 2008, the Fed said. The decline was broadly felt. Production of consumer goods fell 1.8 percent with durable goods -- goods intended to last at least...