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Kioneki Profile picture
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18 Jan, 4 tweets, 1 min read
IMF says out of 171 Central Bank Laws, only 23% allow directly for the issuance of central bank currencies in a digital format. 61% of them limit the authority of issuance to banknotes . Image
Source: Legal Aspects of Central Bank Digital Currency: Central Bank and Monetary Law Considerations imf.org/en/Publication…
I have only skimmed through the paper, but at a glance, the legal analysis looks thorough on alternative paths to issuing Central Bank digital currencies for 171 countries.

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Kioneki Profile picture
20 Jan
My MPESA agent friends are now calling to ask about how to get into the business of dealing bitcoins and cryptocurrencies. I am quite pleased, Mpesa agents are well suited for the business of exchanging cryptocurrencies and local currencies
For them, it's an avenue to earn more from additional business lines. They already have the experience of managing electronic money inventory for cash in cash out business, dealing cryptocurrencies is a natural extension of their experience
What's more, dealing cryptocurrencies does not require a license, or renting out a physical space, and minimum capital requirements to get started are fractions lower than Mpesa agency business. Commissions are better and work can be remote
Read 14 tweets
Kioneki Profile picture
17 Nov 20
I just had one of the best masterclass on how 🇨🇳 China's Huawei conquered Africa's mobile networks thanks to @maorwed
“Concessional loans tied to the purchase of Huawei equipment have proved a highly successful way to win contracts in developing countries.“
“China’s approach to financial assistance to Africa differs from that of traditional donors”
Read 13 tweets
Kioneki Profile picture
17 Nov 20
Mpesa and Kenya’s commercial banks are seeking a deal with the Central Bank of Kenya (CBK) to avoid a unilateral regulatory extension of FREE M-Pesa and mobile banking transactions amid the spike in Covid-19 cases in the country businessdailyafrica.com/bd/corporate/c…
Safaricom’s chief executive, Peter Ndegwa, said the telco was in advanced talks with the CBK over the resumption charges on low-value M-Pesa transactions.

“We are not ready at this stage to announce when the free cash transfers end as we are still in engagements with the CBK,”
”Safaricom reckons that the FREE M-Pesa transfer cost it Sh9 billion in the six months to June, which saw the firm report a 6% drop in net profit to Sh33.07 billion—the first fall in nine years.”
Read 4 tweets
Kioneki Profile picture
16 Nov 20
Another pan African fintech wallet company adds Bitcoin and cryptocurrencies to its suite of products (as expected).

Soon, all pan African fintech wallets will be defavto bitcoin crypto companies too
Post Corona, people want

To earn
To invest and earn return
To earn through discounts and giveaways
Free transactions

This is the new reality for your fledgling fintech wallet up
Paying bills and utilities and airtime purchases is not a differentiator
Read 8 tweets
Kioneki Profile picture
16 Nov 20
What we mean when we say Decentralized Identity with blockchain key management system. The ability to (1) issue credentials that can be (2) verified remotely by (3) anyone after (4) Holders of such credentials approve Image
How it works ImageImage
Some possible use cases of Verifiable Credentials Image
Read 4 tweets
Kioneki Profile picture
30 Jun 20
Overview: African Fintech Wallet Ecosystem Overview [a thread ]
Black in mobile money and bank agents. They are responsible for Cash in and Cash out on the ground. Converting you cash to emoney, or emoney back to cash.

Sometimes agents are also bank agents for cash in to bank money or cashing out bank money via card or app
Bank branches also let you cash in and cash out bank money from your account. higher limits because it is a bank
Read 18 tweets

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