As the global conversation intensifies around the US push for financial deregulation, it is essential to contextualise what this means for Kenya and Africa at large. Could easing regulations be the key to unlocking innovation, financial inclusion, and economic growth? And, if so, to what extent?
A compelling case study is Safaricom’s M-Pesa—one of the world’s first and most successful mobile money platforms. M-Pesa thrived because Kenyan policymakers adopted a progressive, flexible approach: They allowed innovation to lead, then developed regulation to support and safeguard it. This collaborative stance between regulators, policymakers, and the private sector enabled M-Pesa to flourish.
