Matchmakers

Chapter 11

Moving Money

How a Matchmaker Leapfrogged Banking and Brought Financial Inclusion to an Impoverished Country

In 2006, Kenya was one of the poorest countries in the world. GDP per capita was only $2,156, about 5 percent of that in the United States.¹ Travel around the country was difficult, expensive, and dangerous.² There were only 558 bank branches in this entire country of 36.3 million people, placing it 164 of 203 countries ranked by the World Bank.³ Only one in seven people had a bank account, and for those who did, it was often too expensive to use frequently.⁴

Many households were separated over long distances. Often, a husband or son moved to Nairobi or another city, while the wife or parents stayed behind in rural ...