in the 21st Century

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180 Kenya’s Financial Transformation in the 21st Century Jack, W., T. Stoker and T. Suri (2012), “Documenting the Birth of a Financial Economy”, Proceedings of the National Academy of Sciences 109(26), pp. 10257–62. Appendix Elements of financial inclusion status Formal financial products and services Saving account at SACCO Personal loan/business loan from a bank Loan from a SACCO Loan from a microfinance institution Loan from a government institution, e.g. Joints Loans Board, HELB or Youth Fund Loan to buy/build a house or to buy land from a bank or building society Postbank account Bank account for savings or investment Current account with a cheque book Bank account for everyday needs but no cheque book Overdraft ATM card/debit card Credit card Hire purchase (e.g. ART, Amedo, Kenya Credit Traders) Registered mobile money user Car insurance House (building or contents) insurance Government medical insurance, e.g. NHIF Private medical insurance, e.g. AAR, Mediplus Life insurance policy Education policy Retirement Government social security, e.g. NSSF Other insurance Informal financial products and services Savings with an ASCA Savings with a ROSCA/ Merry-go-round Loan from an employer Loan from an ASCA Loan from an informal money lender/Shylock Loan/credits from buyer (of your harvest, e.g. tobacco, vegetables)
The Digitisation of Financial Services 181 Explanatory variables for modelling financial inclusion A. Limited stationary variables Variable Values Gender Male/female Geography Urban/rural Age group 18–25, 26–35, 36–45, 46–55, above 55 Education level None, primary, secondary, tertiary B. Additional explanatory variables Housing attributes Type of dwelling Type of permanent dwelling Material of main dwelling Material of the walls of the main dwelling Main source of cooking fuel Main source of lighting Main source of water Type of toilet facilities Items they own: Radio Black and white TV Color TV Bicycle Motorcycle Desktop/laptop computer Built-in kitchen sink Refrigerator Electric stove and oven VCR/DVD player Electric iron Camera Microwave oven Hi-fi/music centre Vacuum cleaner Free standing deep freezer Car Number of habitable rooms Owner of the residence Employment and income Gross earnings Pension Family/friends/spouse Cash crops Food crops Output from cattle/livestock Sell your livestock Fish farming/fishing Employed on other people's farm Employed to do others' domestic chores Employed by the government Employed in private sector – with 50+ people Employed in private sector – with 10–49 people Employed in private sector – with
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Kenya’s Financial Transformation
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FSD Kenya 5th floor, KMA Centre Cor
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Dedication Ravi Ramrattan was FSD
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CHAPTER 1 Transformation of Kenya
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CHAPTER 2 The Geography of Financia
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CHAPTER 3 Formal Financial Inclusio
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CHAPTER 7 Financial Capability and
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