Our understanding of such endogenous changes in the risk-taking stance, that is, the risk-taking channel, is extremely limited. What is clear, however, is that such changes are greatly influenced by the economic and financial environment, as I mentioned earlier. Financial imbalances that accumulate in the process of risk-taking cannot be sustained indefinitely and eventually balance sheet adjustments will take place.
Vision 2030 envisages an inclusive financial system with space for different players to serve the majority of Kenyans. They will develop their market niches in line with their relative comparative advantages and strengths. In this scenario, the Agent Banking framework will play a complementary role for all players in the market. So these fears are misplaced.