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Markets and poverty in northern Kenya: Towards a ... - FSD Kenya

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MARKETS AND POVERTY IN NORTHERN KENYA: TOWARDS A FINANCIAL GRADUATION MODEL<br />

By<br />

Hannah Elliott <strong>and</strong> Ben Fowler<br />

This report was commissioned by <strong>FSD</strong> <strong>Kenya</strong>. The f<strong>in</strong>d<strong>in</strong>gs, <strong>in</strong>terpretations <strong>and</strong> conclusions are those of<br />

the authors <strong>and</strong> do not necessarily represent those of <strong>FSD</strong> <strong>Kenya</strong>, its Trustees <strong>and</strong> partner<br />

development agencies.<br />

<strong>FSD</strong> <strong>Kenya</strong><br />

F<strong>in</strong>ancial Sector Deepen<strong>in</strong>g<br />

The <strong>Kenya</strong> F<strong>in</strong>ancial Sector Deepen<strong>in</strong>g (<strong>FSD</strong>) programme was established <strong>in</strong> early 2005 to support the development of f<strong>in</strong>ancial markets<br />

<strong>in</strong> <strong>Kenya</strong> as a means to stimulate wealth creation <strong>and</strong> reduce <strong>poverty</strong>. Work<strong>in</strong>g <strong>in</strong> partnership with the f<strong>in</strong>ancial services <strong>in</strong>dustry, the<br />

programme’s goal is to exp<strong>and</strong> access to f<strong>in</strong>ancial services among lower <strong>in</strong>come households <strong>and</strong> smaller enterprises. It operates as an<br />

<strong>in</strong>dependent trust under the supervision of professional trustees, KPMG <strong>Kenya</strong>, with policy guidance from a Programme Investment<br />

Committee (PIC). In addition to the Government of <strong>Kenya</strong>, funders <strong>in</strong>clude the UK’s Department for International Development (DFID),<br />

the World Bank, the Swedish International Development Agency (SIDA), Agence Française de Développement (AFD) <strong>and</strong> the Bill <strong>and</strong><br />

Mel<strong>in</strong>da Gates Foundation.<br />

Government of <strong>Kenya</strong> THE WORLD BANK

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