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Agency Banking Essay

284 words - 2 pages

1.1 Background of study
Mobile Money Transfer Providers are economic organizations or business organizations that can be family firms, partnerships or limited companies that have been formed with the aim of fulfilling a certain objective that is set. The providers engage in business ventures that range from vendors, manufacturing, and customer service. The providers juggle different types of businesses with the aim of making ends ...view middle of the document...

Globally the providers have evolved from family firms that have been set up and passed down in generation as family dynasties having their set ups in neighborhood and sub urban areas. Most of them are small vendors running coffee shops, restaurants, supermarkets or basic retails who supply household goods. Their aim is for continuity geared towards sustainability of their wellbeing and families (Gowan, 1999). In order to stay abreast with customer demands and market evolutions through technology, providers have tremendously changed their operations as they have set out to have partnerships with similar business organizations geared towards meeting and surprising the demand; leading to growth in the providers in Kenya and around the world. The Mobile Money Transfer Providers have contributed greatly towards the economic growth of the country as the enterprises are sources of revenue, employment and innovation in the society. The scope of the impact in the lives of the entrepreneurs has greatly been noted as their livelihood has improved; they can now invest in other areas, afford basic amenities and even create opportunities for others (Kraft, 2006).

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