How Nairobi’s Matatus Defied the Will of Kenya’s Cashless Policy Makers

Nairobi’s failed cashless experiment, an attempt to digitize all commuter payments in Kenya is a poster child on the pattern of thinking that’s left a trail of struggling Fintech experiments in the name of Silicon Savannah.

 

We often fall into the trap of making broad sweeping assumptions about people and places based on our preconceived notions of an what we consider is an ideal world. In the context of East Africa and its bulging informal economy, countless technology entrepreneurs, policy makers, donor agencies and wazungu NGOs have fallen victim to throwing resources at reality hoping to turn it into their Utopian dream. Pick a sector, any sector – be it agriculture, transport, banking, ecommerce. Everything but the kitchen sink has been tried at perceived problems. I say perceived because the definition of the problem depends on who you ask.

Kenya’s short innovation history is littered with such experiments, typically ambitious, well funded but not lasting long before packing up.

Nairobi’s failed cashless experiment, an attempt to digitize all commuter payments in Kenya is a poster child on the pattern of thinking that’s left a trail of struggling Fintech experiments in the name of Silicon Savannah.

Continue reading “How Nairobi’s Matatus Defied the Will of Kenya’s Cashless Policy Makers”

Chamas are the Financial Side of Real World Social Networks

Chamas and social savings groups are the last barrier that protects people when all else is failing like banks, or government or social welfare.

Boda Boda Savings Group Meeting at Ruiru
Boda boda chama by Michael Kimani @pesa_africa

A picture worth 1000 words!

This picture was taken at Ruiru, a town about 20km beyond Nairobi city. What you see here is a group of motorcycles popularly known as boda bodas parked next to Wakini fueling station right outside Mama Lucy’s Deli on your way to Wa Matangi. The feel of this place is a blend between a pure rural and pure urban area – peri urban. Don’t be fooled by the dirt. So why are there 11 empty boda boda? Let me tell you why. Continue reading “Chamas are the Financial Side of Real World Social Networks”