Kenya: Bank Agents Boosted By Cash Transfer Programme

Sep 07, 2017 | The EastAfrican; All Africa

The Kenya government's decision to appoint bank agents as its paypoints for cash transfer programmes for the poor, the elderly and the disabled last year increased the number of their transactions by over 1,200 per cent.

According to the Central Bank of Kenya, the number of transactions on the National Safety Net Programme grew from 1,081 in 2015 to 14,492 in 2016 -- a 1,240 per cent increase. The value of social benefit transactions increased from Ksh206,647 ($2,004) in 2015 to Ksh2,029,458 ($19,684) in 2016, representing a 882.1 per cent increase. CBK said that payment of retirement and social benefits; transfer of funds; cash deposits and cash withdrawals through agents boosted the businesses by Ksh292 billion ($2.83 billion). The transactions related to payment of retirement and social benefits, orphans and vulnerable children, older persons, and persons with severe disability. Last year, the government, through the Inua Jamii programme, disbursed over Ksh14 billion ($135 million) to more than 500,000 beneficiaries. The Kenyan cash transfer programme has been in place since it was launched by Unicef in 2004. In the past 10 years, the government and other donors such as World Bank have joined as contributors. Read more on All Africa. Source: All Africa