It means Masai herdsmen bringing their phones to market along with their cattle, ready to stock up on essentials to bring back to their homes. Such a system also requires intermediaries, to get the cash to M-PESA agents, and ensure cash movement keeps up with e-float exchanges.
Sources: ABS; RBA. Our assessment is that, for the first time in decades, firms’ demand for labour exceeds the amount of labour that people are willing and able to supply. That is, employment is above what we would consider to be consistent with our inflation target.