In these ten years, India has seen significant changes. As you know, we have a large banking system which comprises besides Public Sector Banks, Private Sector Banks, Regional Rural banks and Cooperatives with significant penetrative outreach.
These professional and business people within and outside Kenya send substantial shares of their earnings to family members back home perhaps for consumption smoothing and investment. Ladies and Gentlemen, the mobile phone financial services sector in Kenya has experienced phenomenal growth since its inception in 2007.