Kenya has reduced poverty dramatically in the past few years thanks in part to the country's largest banks helping its poorest citizens save money - making it a model not only for other developing countries, but for America, too, according to new data from the New America Foundation's Global Assets Project.
While American banks tend not to focus on recruiting poor citizens to sign up for savings accounts - largely because the bottom of the pyramid isn't considered lucrative or competitive - the new report shows how Kenya's biggest banks are targeting poor Kenyans through innovative technologies to help them save for the future.
The full report can be viewed here. Interactive data from the report, "Savings for the Poor in Kenya," will be presented at a public event at the New America Foundation on Tuesday, May 22 at 3:30-5 p.m. To find further information and to RSVP, please go here.
About the New America Foundation
New America Foundation is a nonprofit, nonpartisan public policy institute that invests in new thinkers and new ideas to address the next generation of challenges facing the United States.