• Considering that money, being a medium of exchange, changes hands more than anything else, the President’s call for minimal cash transactions is very significant.
• Beauty of this measure is that Kenya is already on the world map as one of the countries that have carved a niche in mobile money transfer technology.
The measures that the government and other stakeholders are taking to tame the Covid-19 disease in the country are commendable.
Heeding the advice will go a long way in tackling the scourge. During his address to the nation on Sunday, President Uhuru Kenyatta issued crucial directives and recommendations aimed at substantial minimisation of the spread of this pandemic. One of his recommendations was a call to members of the public to leverage on cashless payment platforms.
Considering that money, being a medium of exchange, changes hands more than anything else, the President’s call for minimal cash transactions is a significant supplementary measure towards combating this menace.
The beauty of this measure is that Kenya is already on the world map as one of the countries that have carved a niche in mobile money transfer technology.
This has been vindicated by various studies, which have placed Kenya among top nations in the world that are leading in mobile money transfer. The monumental use of mobile money transfer platforms has further been corroborated by the colossal amounts of money that are transferred at any given time.
According to data released by the Central Bank of Kenya last year, for instance, Kenyans had moved Sh1.06 trillion on mobile money transfer platforms in the first quarter of the year.
This heralds a significant embracement of the platforms when carrying out various transactions. Going by this and in the spirit of collectively combating Covid-19, providers of goods and services who do not have cashless payment platforms at their points of sale should consider boarding the train.
Stakeholders in the public transport industry should especially be among the first to implement this recommendation for two major reasons. First, the sector is highly depended on by over 70 per cent of Kenyans to move from one place to another. Secondly, it is one of the industries where liquid money changes hands most frequently.
Given the vibrant growth of the technology of the cashless platform in the country, I am sure we have the capacity to implement this recommendation without breaking a sweat. Together we will overcome coronavirus.