This chart is not merely about M-PESA. It is a live x-ray of the Kenyan economy. And what it quietly reveals is that Kenya is fundamentally an economy of:
- essentials,
- survival,
- micro-transactions,
- informal commerce,
- and fragmented primary value chains.
Look carefully. The largest drivers are:
- consumer payments,
- withdrawals,
- C2B,
- Lipa na M-PESA,
- Fuliza,
- and small daily transaction infrastructure.
That means the real Kenyan economy is not happening in boardrooms. It...