Good day Ali,

You stated M-Pesa is a bank but I digress. Let's wait and see what tomorrow brings on the fuel crisis with GOK having outstanding payments of KES ~14.5B to OMCs and most likely sharp price increases from the scrap of the subsidy all together.

On a light note - Mpesa doesn't need a banking license. It's already a bank! whether they admit it or not. There is an English saying that goes - If it walks like a duck and quacks like a duck, then it is likely that it is a duck! 😅

Regards,
Adrian Teri


    ---------- Forwarded message ----------
From: Ali Hussein <ali@hussein.me.ke>
To: Adrian Teri <adriateri@gmail.com>
Cc: "Kenya's premier ICT Policy engagement platform" <kictanet@lists.kictanet.or.ke>
Bcc: 
Date: Wed, 13 Apr 2022 14:44:32 +0300
Subject: Re: [kictanet] KICTANet Digest, Vol 170, Issue 24
Adrian

I'm going to try and see if I can explain a few things for you and others that may think that Mpesa is some magical thingi and the greatest Houdini in the financial world. 😅

1. Adrian: It might quack like a duck but the holy grail is the ability to create currency out of thin air via lending. m-pesa is a mobile money service. In addition, why do they need CBA which became NCBA for m-shwari (A deposits and loan facility)? Also with KCB and the former for Fuliza(An overdraft facility)? Lastly, why does #Saf operate under a special license from the CBK, unlike the rest who have banking sector charters?

Answer: Whatever money you have in your Mpesa account is mirrored accurately in some custodial accounts in a bank (in this case KCB and NCBA). Mpesa is a bank in as much as the tech powers mobile money and mobile banking for banks. However, it is NOT A BANK in the traditional manner therefore it CAN NOT lend money or accept deposits hence the partnership with NCBA (for Mshwari) and KCB (for KCB Mpesa). Borrowing and lending are a function of a bank whose regulator in Kenya is the Central Bank of Kenya. Mpesa on the other hand has a PSP (Payment Service Provider) License.
from the CBK. 

2. Adrian: The surprise is how this moat has been built under the noses of traditional banks. The unbanked will be now banked and I don't see a reason for the CBK to refuse such a proposition for financial inclusion and better visibility of what is commonly phrased as "Kenya's hidden economy".

Answer: You are absolutely correct in this observation. Banks across Africa have been caught napping. The Mobile Money space, however, is entering dangerous ground from the face of it. Mpesa now has a 99.5% market share of the market. On the face of it. If you dig deeper, however, you will find that despite Mpesa's phenomenal success, cash is still king in Kenya.  So instead of competitors complaining let them go and convert the remaining customers into Mobile Money users. 


Answer: True. In Nigeria however, they took the India Model. The Payment Service Banks are not true banks. They are just glorified, Mobile Money Operators. :-) See below:-




Ali Hussein

Fintech | Digital Transformation


Tel: +254 713 601113

Twitter: @AliHKassim

Skype: abu-jomo

LinkedIn: http://ke.linkedin.com/in/alihkassim




Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.


On Tue, Apr 12, 2022 at 11:14 PM Adrian Teri <adriateri@gmail.com> wrote:
Good day Ali,

Surprised you haven't watched this piece by #KTNNews.


It might quack like a duck but the holy grail is the ability to create currency out of thin air via lending. m-pesa is a mobile money service. In addition, why do they need CBA which became NCBA for m-shwari(A deposits and loan facility)? Also with KCB and the former for Fuliza(An overdraft facility)? Lastly, why does #Saf operate under a special licence from the CBK unlike the rest who have banking sector charters?

The surprise is how this moat has been built under the noses of traditional banks. The unbanked will be now banked and I don't see a reason for the CBK to refuse such a proposition for financial inclusion and better visibility to what is commonly phrased as "Kenya's hidden economy".


I have been saying the following 3 things for some time though in shorter prose and pple don't seem to get them. Each can span a hearty afternoon's conversation ...

"Gov'ts, especially federal/national ones, don't need taxes to fund spending. In fact, spending comes first then taxes are coerced and collected later! Paper notes are burnt and coins restamped!"

                                           &&

"Banks don't lend deposits, It's reserves! They need them to balance their books & comply with the law! The Money Multiplier myth is moot as loans create deposits.The conversation delves much deeper but The sole & meaningful issuer of currency is the gov't and its designated agents(Central Banks) who create money when they spend. They are a literal monopoly of a nation's currency!"

                                           &&

"The gov't is neither a private company, household nor an individual. Stop dumbing down economic discussions with such analogies/examples!"


Regards,
Adrian Teri


On Tue, 12 Apr 2022 at 15:59, <kictanet-request@lists.kictanet.or.ke> wrote:
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Today's Topics:

   1. Re: KICTANet Digest, Vol 170, Issue 17 (Ali Hussein)



---------- Forwarded message ----------
From: Ali Hussein <ali@hussein.me.ke>
To: "Kenya's premier ICT Policy engagement platform" <kictanet@lists.kictanet.or.ke>
Cc: Adrian Teri <adriateri@gmail.com>
Bcc: 
Date: Tue, 12 Apr 2022 15:57:34 +0300
Subject: Re: [kictanet] KICTANet Digest, Vol 170, Issue 17
Adrian

Just curious about your statement below:-

"...but It's apparent even from MJ's interview with #KTNNews that m-pesa is seeking to transition to be a fully-fledged bank." end quote. 

 Could you kindly give us some more information on this? Where did you get this idea from? And if you have it, could you share MJ's clip on this particular subject?

My understanding about banking licensing is that you don't start collecting customer information before you are authorized to do so. Generally, prudential guidelines are very strict on this. 

On a light note - Mpesa doesn't need a banking license. It's already a bank! whether they admit it or not. There is an English saying that goes - If it walks like a duck and quacks like a duck, then it is likely that it is a duck! 😅


Ali Hussein

Fintech | Digital Transformation


Tel: +254 713 601113

Twitter: @AliHKassim

Skype: abu-jomo

LinkedIn: http://ke.linkedin.com/in/alihkassim




Any information of a personal nature expressed in this email are purely mine and do not necessarily reflect the official positions of the organizations that I work with.


On Tue, Apr 12, 2022 at 3:29 PM Adrian Teri via KICTANet <kictanet@lists.kictanet.or.ke> wrote:
Seems like #Saf suffers from the same ailments like GOK in communicating effectively? Or were they taking advantage of the situation as citizens fear gov't? The Chief of Risk Management & Security at #Saf points to enhancing security but It's apparent even from MJ's interview with #KTNNews that m-pesa is seeking to transition to be a fully fledged bank.


Regards,
Adrian Teri


---------- Forwarded message ----------
From: Adrian Teri <adriateri@gmail.com>
To: "Kenya's premier ICT Policy engagement platform" <kictanet@lists.kictanet.or.ke>
Cc: 
Bcc: 
Date: Sun, 10 Apr 2022 13:07:04 +0300
Subject: Re: [kictanet] KICTANet Digest, Vol 170, Issue 11
Good day all,

There is something remiss and I see it unravelling rather quickly and badly. The CA is a gov't commission, essentially a creature of GoK. What's the purpose of Huduma namba while one still pays a facilitation fee of 1,050/= for numerous services in ecitizen only for them to collect the same data they did for the mass registration of huduma namba(fingerprints, photo and I even think an e signature was part of it too)? A Déjà vu to the Huduma Namba exercise where the gov't was simply unable to communicate that were upgrading our IDs from biographic to biometrics?

Why waste productive capacity and man hours to duplicate data multiple times? Are your fingerprints & birth certificate changing? And even in aspects that do like your area of residence, contact details, marital status, assets etc. if there are 2 or more institutions requiring such info will you continue to trudge across all of them to update your details?

I do believe the CA has technical people and in IT we know you can design an IDP or SSO-like system where you centralize(Just like the Huduma namba's aka "single source of truth") storage and management of your user's digital identities. In this analogy it would be a gov't institution/corp asserting you are who you claim to be(authentication).

Regards,
Adrian Teri



---------- Forwarded message ----------
From: Mwendwa Kivuva <Kivuva@transworldafrica.com>
To: "Kenya's premier ICT Policy engagement platform" <kictanet@lists.kictanet.or.ke>
Cc: 
Bcc: 
Date: Fri, 8 Apr 2022 21:07:03 +0300
Subject: Re: [kictanet] SIM CARD REGISTRATION & DATA PROTECTION ACT, 2019
On Fri, 8 Apr 2022, 19:20 Mutindi Muema via KICTANet, <kictanet@lists.kictanet.or.ke> wrote:
Gobsmaked in deed 💯

The CA has finally stated today that kica SIM registration regs does not require photo of subscriber to be taken

Full interview on Youtube here https://youtu.be/-SpW2rFhYxQ 


Meaning then if you ever registered, you will not need to re-register. Because  photograph was the only missing link that was never taken in previous initial registration



---------- Forwarded message ----------
From: Kathy Mwai <kathymwai@gmail.com>
To: "Kenya's premier ICT Policy engagement platform" <kictanet@lists.kictanet.or.ke>
Cc: 
Bcc: 
Date: Fri, 8 Apr 2022 21:47:46 +0300
Subject: Re: [kictanet] SIM CARD REGISTRATION & DATA PROTECTION ACT, 2019
@Mwendwa, apparently there's an electronic signature as well. I called Safaricom earlier this is what they told me: They will scan the ID, take a passport photo, and electronic signature 🤔

On Fri, 8 Apr 2022 at 21:08, Mwendwa Kivuva via KICTANet <kictanet@lists.kictanet.or.ke> wrote:
On Fri, 8 Apr 2022, 19:20 Mutindi Muema via KICTANet, <kictanet@lists.kictanet.or.ke> wrote:
Gobsmaked in deed 💯

The CA has finally stated today that kica SIM registration regs does not require photo of subscriber to be taken

Full interview on Youtube here https://youtu.be/-SpW2rFhYxQ 


Meaning then if you ever registered, you will not need to re-register. Because  photograph was the only missing link that was never taken in previous initial registration
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“The Communications Authority did not order the telecommunications companies to register all SIM card holders afresh,” Chiloba exclusively told The Standard.

Chiloba said the telecommunications companies that asked all Kenyans to re-register their lines, were “overzealous”, saying: “That’s not what we asked them to do.”

The Director-General says the mobile service providers opted for a knee-jerk reaction after CA demanded that all the service providers must provide updated lists of all their registered customers by April 15, 2022.

On Sat, Apr 9, 2022 at 12:19 AM Gachungi, Lydia via KICTANet <kictanet@lists.kictanet.or.ke> wrote:

Good people, so what is the current position?. Asking from Addis and wondering since my sim card was already registered and when I dial *106# it verifies I am registered, do I need to re-register?

 

Kind regards

 

Lydia

 

From: KICTANet <kictanet-bounces+l.gachungi=unesco.org@lists.kictanet.or.ke> On Behalf Of Mwendwa Kivuva via KICTANet
Sent: 08 April 2022 21:07
To: Gachungi, Lydia <l.gachungi@unesco.org>
Cc: Mwendwa Kivuva <Kivuva@transworldafrica.com>
Subject: Re: [kictanet] SIM CARD REGISTRATION & DATA PROTECTION ACT, 2019

 

CAUTION: This email is external from UNESCO. Please be vigilant on its sender and content. ATTENTION : Cet e-mail est externe à l'UNESCO. Soyez vigilant sur son expéditeur et contenu.

 

On Fri, 8 Apr 2022, 19:20 Mutindi Muema via KICTANet, <kictanet@lists.kictanet.or.ke> wrote:

Gobsmaked in deed 💯

 

The CA has finally stated today that kica SIM registration regs does not require photo of subscriber to be taken

 

Full interview on Youtube here https://youtu.be/-SpW2rFhYxQ 

 

 

Meaning then if you ever registered, you will not need to re-register. Because  photograph was the only missing link that was never taken in previous initial registration

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