Conference to Focus on Growing Kenya's World Leadership in Financial Inclusion
Nairobi, September 22, 2017 - The Kenya Bankers Association (KBA) today announced details of its sixth annual banking research conference. This year's event will look at ways the banking sector can grow and deepen the country's already impressive financial inclusion record. The conference will be opened by Central Bank of Kenya Governor Dr. Patrick Njoroge.
Kenya has the highest levels of access to formal financial services in Africa, with over 75 percent of adults using banking and other formal financial services such as micro finance and mobile financial services. This is up from approximately 65 percent in 2013 according to research from the Kenya National Bureau of Statistics and Financial Sector Deepening (FSD).
The KBA's research summit will look behind the success story of the country's financial inclusion to analyse where it has made the biggest impact. New research to be unveiled at the event will also look at where potential exists for further innovation to widen the range of services and thus reach even more of the population.
Speakers will particularly look at the role of the banking sector in enabling development through access to banking products and services; and explore the impact of emerging barriers, such as the Banking Amendment Act that introduced pricing controls to the sector.
KBA's chief executive officer Habil Olaka said that while Kenya has led Africa in mobile and online banking, there remains significant potential to widen accessibility to other financial services such as insurance and investments. "Our conference this year will provide new research and insights that will be of critical importance to policymakers, as well as business leaders looking at ways to expand their market share," said Mr Olaka.
"The financial sector has evolved to accommodate significant change over the past decade such as digitisation and the emergence of fintech firms. All these topics will be covered, bringing delegates up to speed with the latest trends and opportunities to help plan for a future of greater inclusion that is both deep and wide," he added.
During the conference, seven papers will be presented by eminent researchers in their field, covering the following topics:
The conference will also include two papers from KBA authors, namely "Financial Inclusion: How Do You Know That You Are There?" by Jared Osoro and David Muriithi, and "Strategic Leadership and Strategy Implementation in Commercial Banks in Kenya" by Mr. Olaka.
Since 2012, the KBA Centre for Research on Financial Markets and Policy has hosted the Annual Research Conference as its flagship event. Each year the conference showcases emerging insights from a diverse base of authors. The event provides a platform for researchers to engage with policymakers and practitioners, creating a body of knowledge to promote growth, stability and competition in the banking industry, financial sector and the wider economy.
About Kenya Bankers Association
KBA (www.kba.co.ke) was founded on 16th July 1962. Today, KBA is the financial sector's leading advocacy group and banking industry umbrella body that represents total assets in excess of USD 37 billion. KBA has evolved and broadened its function to include advocacy on behalf of the banking industry, and championing financial sector development through strategic projects such as the launch of the industry's first P2P digital payments platform PesaLink. In line with the Government's policy on public-private partnerships, KBA and Central Bank of Kenya have implemented key projects such as modernization of the National Payments System through the Automated Clearing House, implementing the Real Time Gross Settlement System (RTGS), and the Kenya Credit Information Sharing Initiative which introduced the use of information collateral provided by credit reference bureaus to enhance credit access for borrowers. The KBA members are comprised of commercial banks and deposit taking microfinance banks.
Ms. Nuru Mugambi, Director of Communications and Public Affairs, Kenya Bankers Association Phone: +254-20-2221704/2224014, Email: firstname.lastname@example.org