Interesting this mpesa example on how to improve efficiency and money velocity. Money velocity in an instant. No wonder CBK roped in mpesa. They must be amazed - http://www.businessdaily.../-/t614ftz/-/index.html

I saw an article stating that cheques will now clear in 24 hrs in KE... Competing for realtime settlement like mobile money. I can only imagine if 50% of the daily biz turnover for the entire econ could be settled in a day, the money velocity would be a global case study.

Definitely KE is heading towards a cashless society maybe in a decade's time...

Mobile money revolution will forcefully change the archaic banking system. Many financial firms resisting this disruption will fall on the way side...

Financial revolution is happening in KE and the whole world is taking notes

*** At some point it'll be a big 'sin' for mobile money platforms to fail considering the effect they'll be having on the money chain as well as the influence that will have on the GDP...

^ that's a major contributor to this

Luxury brands flock to Kenya as middle class tastes grow

The number of Kenyans classified as middle class has doubled in the last decade to almost a fifth of the population or 6.5 million Kenyans, data from the African Development Bank (AfDB) shows.

It means that one out of every five Kenyans is considered middle class — a status mostly defined by tertiary educated persons holding salaried jobs or owning small businesses, urban residency and ownership of household goods such as refrigerators, phones, flat screen TVs and automobiles.

The African Development Bank defines persons with an annual income exceeding Sh340,000 per year and spending between Sh500 and Sh900 ($6 and $10) daily as being in the middle class but experiential analysis suggests this is too low.