From the Guardian:
Part 2 looks at Kenya’s mobile-based grand matriarchal brokerage system and women using gold as a credit source; and explains how banks can better serve the poor and women.

IMTFI Fellow and anthropologist Sibel Kusimba found that an interesting savings method has emerged from this trend: women, grandmothers in particular, work as brokers to recirculate mobile money funds in ways that benefit their entire families. “Kenyan women see themselves as responsible for others in their family, church and community – providing this security to others brings them prestige. Through reciprocity, they can rely on these people when needing that assistance. This social relationship is a form of savings.” Gold and other precious metals have also long performed as a credit source. At the Institute for Money, Technology & Financial Inclusion (IMTFI), researcher Nithya Joseph traced gold as a form of savings in a silk-reeling town in Karnataka, India. "That gold continually rises in value makes the metal an ongoing attractive form of savings for this community," Joseph says. "Pawnbrokers are often family-run businesses, so interactions between broker and seller become tight. Even nationalized and private banks offer loans against gold as a service, while other companies have formed around gold-based loans," she says.

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