CREDIT CRUNCH WHERE

As the world contemplates on several kinds of stimulus packages, Kenya and the African region as a whole seem to be dancing to another tune all together. I keep getting the feeling that we may have been living in an island isolated from the ripples of the world financial crisis.

Yes I agree that there is a world financial crisis but here you minus Africa. While the world did business on 2% came from the African continent. It seems that most of the trade has been within the continent. Do not tell me about the minerals the oil the resources ….well there have been there but no meaning change has taken place until access to ‘information’ became this easy.

Since my paps in the rural area has information on where to sell his farm produce, all he has to do is send a text message to the willing buyer and an agreement is made. Deliver the produce the buyer then he does the payment through mobile money transfer.
All this is happening in every seven people who have a mobile phone in Kenya. Now imagine the number of transaction that take place in a day and you will start asking yourself ‘credit crunch? What credit crunch’

And with our poor provision of statistics it could also probably project a situation which implies that many people in Kenya are self-employed and the number of the unemployed could be highly inflated.
The number of businesses in the micro-economy is yet to be fully captured by the treasury. A lot of business takes place around this section of society where money moves around and rarely leaves. Once in a while capital injection is put in but these societies seem to run pretty well.

If you think that I am on a rant ask yourself why is Safaricom telling Vodafone that they are willing to buy the commercial rights of M-Pesa? Or why did Zain go to court over its Z-mobile money transfer service or why is Orange Kenya starting on its feasibility study on its own mobile money transfer service (it should be ready by the end of October).
Our curiosity is still high Kenyans are buying new gadgets and experimenting on the latest applications

So who was asking of a credit crunch? Well am now walking around with a Nokia N96, I have just had it for two days and first the screen is supa but the battery the battery oh god

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