Guyz the budget presents a vibrant opprotunity for innovative bzzmen. Scan this provision in the Budget.Uhuru proposes to amend the Banking Act to allow banking to be offered through agencies. The agencies will be allowed to transact bank business and accept deposits. This means that banks do not have to incur arbitrary costs of opening branches,hiring staff and other operational costs such as rent. It will therefore be possible for Banks to offer banking services to members of the public through agents by simply paying them commisions. The banks will therefore be able to reach out to unbable especially in areas where it is not viable to offer branches. Once the CBK releases regulations,it is time to tale advantage of this window of opportunity. Who said there are no jobs in Kenya. Uhuru has Offered Kenyans an opportunity to invest. Looking it from another angle i think it could be a strageby by banks to beat MJ with his MPESA.




JIT

Well well well! '....if it is not EXPRESSLY prohibited in law,DO IT!...' ...wonder what a visit with mr mwangi on this matter would yield. I wonder.

..if it is not expressly prohibited in law.. DO IT!!!!

......the opportunities for banking agency would not go to individuals but other business outlets such as supermarkets etc.

...as for Mpesa youstill cant make huge payments and with the coming changes in clearing rules expected to reduce clearing cycle and limit cheque amounts to a mio,banks should continue to play the lead role in the payment system.

I can already see in the rural being scammed by `agents`.

The best time to plant a tree is twenty years ago. The second best time is now.

Good people

Firstly please move this topic to the right category then the SK guys more focussed on these matters will probably respond more.

I see it maybe a little differently,that banks will form a link with M Pesa just like with Pesa point. You will access your cash and transact fully on the phone. The banks will thus reduce investment in Brick and mortar and they will reach the customer. Banks will pass on the cash risk to the MPesa guys. Mayabe the opportunity will be in investing in quality M pesa outlets. I do not rule out new the creation of new banks that serve all banks. It could be a revolution. If MPesa links all branches,why not run a branch of any bank?

food for thought for entreprenuers.