Boston Area Returned Peace Corps Volunteers

Mobile money helps Kenyans weather financial storms


New study shows how electronic cash transfers help people cope with income problems

Only about one-fourth of Kenyans have access to a traditional bank, and many people in the country farm for a living. Add those things together, and the result is that a large number of Kenyans are vulnerable to unpredictable income fluctuations. But a new study co-authored by MIT economist Tavneet Suri shows that a growing form of electronic payments is helping Kenyans weather these financial problems by letting them informally borrow and lend money more easily.  >>Read More

Newstory sourced from Peter Dizikes, MIT News Office

 

By Anna - Posted on 02 February 2014

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