A new study today shows that the expansion of mobile money helped bring hundreds of thousands of Kenyans out poverty, especially those in female-headed households. The study, published in Science, examined how M-PESA, Kenya’s text message-based payments system, spread across the country over six years. The researchers tracked the economic progress of thousands of households and estimate that the expansion of M-PESA lifted 194,000 households, or two percent of households in the country, above the poverty line, and that these effects were partly driven by women’s access to the new way of sending and receiving money.
For more on this story visit the following link: Simple Access to Mobile Money Lifted Two Percent of Kenyan Households Out of Poverty
Source: Innovation for Poverty Action