Barriers to Uptake and Use of Agency Banking Products Targeting Poor and Marginalized Populations in Kenya.

Abstract

Abstract : In February 2010, the Central Bank of Kenya (CBK) released regulations allowing banks to recruit agents to offer limited banking services on their behalf. Though this seemed a welcome move, a study done on the three leading agency models KCB Mtaani, Eguity agent and Coop Kwa Jirani found out that these models were experiencing difficulties in rollout, uptake and use by the poor and marginalized. Purposive sampling targeting par ticipating banks, regulators, agents and users was used and an in - depth understanding of the implementation and actual use experiences was explored. This paper discusses the context of use of mobile banking products, the various use experiences and challen ges cited in the study as well as mobilization strategies with the aim of providing an effective trajectory to guarantee increased uptake, use a nd sustenance of these products