Fidha254:

Thats just alot of crap you guys keep spewing, Someone from Mauritius or Botswana or Algeria should boast of banking infrastructure, not from Nigeria.. What Nigeria has is big banks, it doesn't have a banking infrastructure that caters for its population...

First of all, before we even talk about Mobile Money like MPesa which you clearly don't really know about, (you think you do but you don't)
Lets talk of the banks that you keep mentioning as the preferred means of formal banking in Nigeria.. Dod you know a bigger percentage of Kenyan population have bank accounts than in Nigeria?
Nigeria has 4.9 Bank-branches per 100,000 people
Kenya has 5.9 branches per 100,000 people

Thats according to world bank http://data.worldbank.org/indicator/FB.CBK.BRCH.P5 So whats this lack of insfrastructure in kenya that you are talking about??

Kenya has a better distribution of bank branches than Nigeria read this...




This clearly shows your bank only serve the rich and middle-class and alot of petrodolaar companies..... No wonder you and your fellow mates keep on talking about how people in Nigeria use e-transaction because they have bank accounts.. You guys probably still equate owning a credit card as a sign that you are well off... While in Kenya its just a card you don't really need.... Mpesa is waaay better, I mean if one were to send me $500 right now from any part of the world throgh skrill or paypal, to my bank account, in the next 2 minutes I will be holding cash after withdrawing it from the Mpesa agent right outside my apartment...

Here is how Nigeria shoulnt really talk about Mobile banking (the only thing you got going for you is big population, nothing else, meaning even if jus a small portion of the population do mobile bnanking, its still very profitable.....


------------------------
So you say you use Mobile banking through Mobile apps and you say its free, lets see of its really free from the customers point ..

1)For you to do mobile banking tranaction, you need internet (Incur Data charges),
2)For you to use Internet, You need a smart-phone ---- Well guess what, only 30% of nigerians own a smart phone that leave 70% of nigerians out of reach for mobile banking!!!!! ohh lets not forget, already 84 Million Nigerians don't have bank accounts -Thats twice the population of kenya all of these people could really use mobile money, considering Nigeria Mobile penetration rate is 94%
http://www.vanguardngr.com/2017/01/tech-will-help-unbanked-population-2/
3) ATMs in Nigeria are statisticly found 10KM of drive ---- Thats a N1,000 in transport to withdraw from an ATM...

All these are extra costs that you incur every-time



Mobile money beats any time of p2p e-tranaction out there, you can take that to the bank..... the reason its not succesfull in places like SA is because people with credit cards think they don't need it and not enough network is built for it to support the technology... You see most people from outside assume alot of things on why Mpesa is successful in Kenya, but the reason why that success has happen is because alot of investment was made into having those mobile agents.... Thats network of agents is what makes Mpesa realy thrive... For exaple, Nigeria has 1,600 branches, about 15,000 ATMs... Sooner of later, you will need to que up in you already overcrowded banks or atm machine to withdraw cash which is still the most common type of tranacting... Mpesa has 150,000 Agents to who you can deposit or withdraw cash, they are ubiquitous, You can find an Mpesa agent anywhere and everywhere.... plus, you can even pay the grocerry lady at the conershop with mpesa,,,, you cant do that with your credit card..

right now I can take 5 minutes to pay someone school fees,
Save money in my mobile wallet,
bay any type of bill
Hell I can even pay fine if I get a traffic ticket right on the spot when the police stop me....
If I got arrested today and charged in a court and I had nothing in my wallet, All I need is a phone call cand I can pay the bail to be released
I can withdraw money from a bank to my mpesa
-------------------------------
I can do all these things without ever having to step into a bank...Ever, I will never que, I will never have to look for my bank account monthly statement or report to see where my credit card was used and what hidden cost I uncured





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I can write a 15 page proposal on why and how Mpesa is waay better than mobile banking..... but to avoid making this a long reply let me just finish with this video......



Perhaps you should watch a guy from a trully developed country explain why Mpesa is better than mobile banking using smart-phones and apps



https://www.youtube.com/watch?v=D9_6G8J6VJg

Fidha254,thanks for that excellent vid! Naijjans,thats ex Sr VP Nokia on mpesa. In other words he knows his poo! At the end he says "Europe will come to Kenya for consultation on mobile apps."

iblawi:




The funny part of the whole thing is that your source is almost a decade old. This makes me wonder if you guys are trained on how to carry out research.

That source is important, because barely eight years ago, 4 in every 5 nigerians had no idea what a bank account is. You should at least give it up to me for pointing out that you have raised that number to a DRUM ROLLING 44 %, of whom 16 % have a credit card, in a few years despite the giant problems.
And then a nigerian dares say that nigerians don't need mobile money because they have adequate banking, with only 16 % having credit cards. Thats laughable fellas, with your tiny mobile banking penetration, that means sending money in nigeria is still as old school as they come. Nothing surprising however, when you know that the people who really need to transact money are the oil tycoons, when transferring it to Europe for safekeeping. The rest don't matter

iblawi:


You guys stupidity is unbelievable? Have you ever Google the number of branches each Nigerian banks have?

I laughed when I saw the way you people contradict yourself about Nigeria Unbanked and banked population by branch.

Let me help you a little, there are banks in Nigeria with over 750 branches, some with 330 branches and even 500 branches. So, you tell me how many Kenyan banks have up to hundred branches?

For mpesa and other I like the way you people keep contradicting yourselves.

Am done with all this lectures you guys should learn about your country first before comparing with others.

I'm quite sure the sheer depth of the information was beyond your comprehension. So how many branches are there in naija so that we can compute the number per 100,000? `I know you are likely to escape into "the south has bla bla bla , leave the north". You guys have an equivalent of two Kenyas unbanked in terms of population, and you think you have an adequate banking industry. That is called a nigerian joke

kikuyu1:


Fidhaa254,thanks for that excellent vid! Naijjans,thats ex Sr VP Nokia on mpesa. In other words he knows his poo! At the end he says "Europe will come to Kenya for consultation on mobile apps."

The Europe with a developed banking industry will come to kenya (and they came long ago, the video is old) to learn and mimic, but Nigeria, with their "developed 44 % banking industry" will stick to their guns. They'd rather work at the snails pace until Makoko has a bank.
Thanks Fidha254 for the video, and excellent analysis.

They are comparing mobile apps from banks, with mobile money! They have no idea how much different that is. Almost all banks in kenya have mobile apps for similar purposes, but cannot go far. How many banks can adopt a different bank's app, so that there is growth? Maybe nigerian banks can, because they also merge all the time to create Giant banks . each bank remains with its app, and nothing much except excessive talks to connect bank A with bank B, C, D, .... What a waste of time and resources

TayserMahiri:


I'm quite sure the sheer depth of the information was beyond your comprehension. So how many branches are there in naija so that we can compute the number per 100,000? `I know you are likely to escape into "the south has bla bla bla , leave the north". You guys have an equivalent of two Kenyas unbanked in terms of population, and you think you have an adequate banking industry. That is called a nigerian joke

You didn't share any information apart from the fact that mpesa is not working every where it goes.

TayserMahiri:


The Europe with a developed banking industry will come to kenya (and they came long ago, the video is old) to learn and mimic, but Nigeria, with their "developed 44 % banking industry" will stick to their guns. They'd rather work at the snails pace until Makoko has a bank.
Thanks Fidha254 for the video, and excellent analysis.

They are comparing mobile apps from banks, with mobile money! They have no idea how much different that is. Almost all banks in kenya have mobile apps for similar purposes, but cannot go far. How many banks can adopt a different bank's app, so that there is growth? Maybe nigerian banks can, because they also merge all the time to create Giant banks . each bank remains with its app, and nothing much except excessive talks to connect bank A with bank B, C, D, .... What a waste of time and resources

Guy can you answer this question?

We both know sugar and honey are both sweet but tell me why Nigerians should throw away the honey they have for the sugar Kenya is offering?

Is it still not clear to you that the whole world is rejecting your Mpesa?

iblawi:



Guy can you answer this question?

We both know sugar and honey are both sweet but tell me why Nigerians should throw away the honey they have for the sugar Kenya is offering?

Is it still not clear to you that the whole world is rejecting your Mpesa?

How about honey being healthier than mere sugar?

iblawi:


You didn't share any information apart from the fact that mpesa is not working every where it goes.

The quesion was clear, bank branches per 100,000 in nigeria. Stop deviating
We all know mpesa would not work in nigeria because all naija cons would set up camp attempting to steal the money. And unfortunately the central bank has no clue how they would handle that

TayserMahiri:


How about honey being healthier than mere sugar?

Good and that is because we have a healthier system already so why bargain for less?

TayserMahiri:


And this is how Nigerians seem to miss the point at every single step. They don't give a rats a$$ about the poorer in society, who are the vast majority. As at April 2015, Kenya topped the list of the banked population in AFRICA at 75 %. South Africa was second at 70 % and guess where the giants were? A pitiful 44 %. Kenya’s banked population is above the global average of 62 per cent. Nigeria is way off the global average.

So now nigerians, when do you plan to actually bridge the gap of a whooping 56 % unbanked population? By establishing Bank branches in the floating slums of Makoko or the terror infested north? You need real solutions to real problems brothers! Not trying hard to copy the developed world who have adequate banking infrastructure. Your banking infrastructure is not adequate, what you have are big banks, which of course do not reach the poor majority. 56 % is not a small percentage, don't dream of bridging it with smartphones that the majority do not have. The banks of naija are busy expanding out of nigeria you would think they have done the full job back home! But guess what, those banks also don't care about the 56 %. For them, the poor nigerians are useless, they'd rather go to other parts of the world and tap there.

Once again, your banking infrastructure is not adequate, not when more than half your population is unbanked.

Oga, Nigeria's high level of unbanked pple is not because of the lack of bank branches as there are bank branches in every nook and cranny of Nigeria. Even in the so called "terror-infested" north they are everywhere. Many Nigerians are just comfortable with keeping money in their own spaces. It is a partly cultural feature.
And mind you, most Nigerians are not poor. Go and check this last survey carried out by the World Bank. Only about 37% of Nigerians are poor and with the increasing emphasis on state viability and individual development, that figure will soon reduce.

TayserMahiri:


The quesion was clear, bank branches per 100,000 in nigeria. Stop deviating
We all know mpesa would not work in nigeria because all naija cons would set up camp attempting to steal the money. And unfortunately the central bank has no clue how they would handle that

So you expect me to give you that statistics but can't tell me how many of your banks have up to 100 branches in kenya.

Most of them have about 33 branches and 90 ATMs in the whole Kenya. The highest have just above 100 branches but you compare your banks with banks that have over 750 branches.

WAKA, God punish you for the unnecessary stress you made me go through.

TayserMahiri:


Guy, look around and notice that no country has developed from the entertainment industry. In the countries where entertainment scene is strong such as USA and Jamaica, the people involved generally come from the marginalized communities such as blacks in USA. Entertainment is in most cases to make life bearable. Which is what is happening now in nigeria, people are looking for places to immerse their tribulations.
I also notice you mention churches as another industry you are excelling in as well as fashion. Well
That is, since the the vast population is unbanked, and the number of problems just keep multiplying, nigerians are immersing themselves into music, churches and dressing nicely to feel good. Talk about burrowing your head in the sand. As soon as you lift up your head, reality will have gone nowhere. It will be right there staring at you.

The biggest American Artistes are the white Rock and Roll Artistes and those in other genres. Also the biggest names in Hollywood which is a money spinner for the US are the whites. Are they also deprived and looking for ways to hide their frustration?

Maduawuchukwu:


Oga, Nigeria's high level of unbanked pple is not because of the lack of bank branches as there are bank branches in every nook and cranny of Nigeria. Even in the so called "terror-infested" north they are everywhere. Many Nigerians are just comfortable with keeping money in their own spaces. It is a partly cultural feature.
And mind you, most Nigerians are not poor. Go and check this last survey carried out by the World Bank. Only about 37% of Nigerians are poor and with the increasing emphasis on state viability and individual development, that figure will soon reduce.

This guy's are really stupid I swear. Look at the question he asked me as if he could defend himself. A major bank with just 33 branches and 90 ATMs in the whole of Kenya and he still wonder why Mpesa was successful in Kenya but not successful in other countries.

iblawi:


Good and that is because we have a healthier system already so why bargain for less?

56 % of Oga having no bank account is being bedridden. That is not healthy, except by Naija standards

Maduawuchukwu:


Many Nigerians are just comfortable with keeping money in their own spaces. It is a partly cultural feature.

Definitely, we leave it here. Most backward statement I have heard in a long long time. It can't get worse than this.

TayserMahiri:


56 % of Oga having no bank account is being bedridden. That is not healthy, except by Naija standards

209 bank branches in kenya? And you people don't see it as a problem but Nigeria not having 24 hours electricity is your problem. Shame on you.

Even micro-finance banks have more than 33 branches and 90 Arms in Nigeria.

iblawi:


This guy's are really stupid I swear. Look at the question he asked me as if he could defend himself. A major bank with just 33 branches and 90 ATMs in the whole of Kenya and he still wonder why Mpesa was successful in Kenya but not successful in other countries.

Dude, you need to get your generator on to charge that phone. It is 15 % now and I can't help noticing you are using 3G internet.
Too bad. Sorry if the fuel is over man. There is always tomorrow to get some more.

And then there is something known as Confirmation Bias, its quite common among Nigerians, possibly due to the collapsing education system. You selected one bank with among the least ATMs to prove a point, which to someone like me and many kenyans is a sign of poor education.
Secondly, someone told you what you have is a giant population, and so you need many branches. We are less than half your giant population, so a bank having 750 branches here would be wasteful. You, on the other hand need waay more than that to equal Kenya's branch per 100,000.

What you are doing is like an Indian bragging to a nigerian that some of their banks have 1,000 branches in the country while in naija its 750. Thats dumbness.

Lastly, as the video posted before showed you (if you watched, and I doubt you watched with the power running out and a slow 3G internet), ATMs are almost losing value here. Who wants to leave a house to go to an ATM when you have a phone with all the services provided by the ATM and more? ATMs are so outdated here, only Nigerians frequent them and look rather confused why they are always alone. The guy on TED X clearly said those ATM types of banking will soon be phased out in favor of convenient mobile money. Watch it if the 15 % power allows you.

iblawi:


209 bank branches in kenya? And you people don't see it as a problem but Nigeria not having 24 hours electricity is your problem. Shame on you.

Even micro-finance banks have more than 33 branches and 90 Arms in Nigeria.

The hardest part for a person like you to understand is that absolute numbers mean nothing. Which school did you go to?
What matters is those numbers per person. That's why we talk of doctors per citizens, police men per citizens etc. If things were taken your way, Nigeria, India, China, Indonesia and all overly populated countries would be First World. Therefore, I provide you with the proof that even those few in Kenya are more per citizen than yours in Naija in relative terms. It is my sincere hope that for the first time in your life, you will grasp something upstairs.

The two columns you see represent the standings as at 2004 and 2015 respectively. Please observe Nigerias trend keenly in the extrapolated curve just next. Its a gracious nosedive to the unknown for the 44 % adequate banking industry. Kenya's on the other hand is shooting for the stars.
Once again I used your favorite WB statistics, if I provided others you would give up on Nigeria.

http://data.worldbank.org/indicator/FB.CBK.BRCH.P5

Here you go
Commercial bank branches (per 100,000 adults)

Nigeria has issues and i will be first to lamblast it on those issues. It doesnt mean i am unmindful of uhuru and museveni.

So there is something comically funny when you hear a kenyan or Ugandan derisively say "Nigerian standard", Its simply hilarious.


More like hearing a Bangladeshi or Afghan mocking "indian" standard. Simply Epic!

OreMI22:
Nigeria has issues and i will be first to lamblast it on those issues. It doesnt mean i am unmindful of uhuru and museveni.

So there is something comically funny when you hear a kenyan or Ugandan derisively say "Nigerian standard", Its simply hilarious.


More like hearing a Bangladeshi or Afghan mocking "indian" standard. Simply Epic!

Just say Kenya, I haven't seen a Ugandan here.

TayserMahiri:


Dude, you need to get your generator on to charge that phone. It is 15 % now and I can't help noticing you are using 3G internet.
Too bad. Sorry if the fuel is over man. There is always tomorrow to get some more.

And then there is something known as Confirmation Bias, its quite common among Nigerians, possibly due to the collapsing education system. You selected one bank with among the least ATMs to prove a point, which to someone like me and many kenyans is a sign of poor education.
Secondly, someone told you what you have is a giant population, and so you need many branches. We are less than half your giant population, so a bank having 750 branches here would be wasteful. You, on the other hand need waay more than that to equal Kenya's branch per 100,000.

What you are doing is like an Indian bragging to a nigerian that some of their banks have 1,000 branches in the country while in naija its 750. Thats dumbness.

Lastly, as the video posted before showed you (if you watched, and I doubt you watched with the power running out and a slow 3G internet), ATMs are almost losing value here. Who wants to leave a house to go to an ATM when you have a phone with more services than the few provided by that ATM? ATMs are so outdated here, only Nigerians frequent them and look rather confused why they are always alone. The guy on TED X clearly said those ATM types of banking will soon be phased out in favor of convenient mobile money. Watch it if the 15 % power allows you.

Unfortunately for you I still have power right now. And besides I have lot of options to pick from when am ready to charge my phone. PHCN, generator, power bank, laptop, etc. Now you see why Nigerian are more productive than Kenyans.

The rest of your post show your level of stupidity when compared to all the argument you people have being putting up.

iblawi:


209 bank branches in kenya? And you people don't see it as a problem but Nigeria not having 24 hours electricity is your problem. Shame on you.

Even micro-finance banks have more than 33 branches and 90 Arms in Nigeria.

Woo, I hadn't seen it jumped to 6 % in such few minutes. Lets see whether the guy responds soon, if he doesn't, we know the generator has no fuel for now.

TayserMahiri:



Once again I used your favorite WB statistics, if I provided others you would give up on Nigeria.

http://data.worldbank.org/indicator/FB.CBK.BRCH.P5

Here you go
Commercial bank branches (per 100,000 adults)

You are wrong. It's one thing to cite a statistic and another to understand it and apply it with the least bias possible.

@TayserMahiri Please follow these calculations for future reference

Total population Nigeria: 182,201,962
Total population Kenya: 46,050,302

Total Nos of banks(thousands) Nigeria: 5.5
Total Nos of banks(thousands) Kenya: 5.7

Total nos of banks is calculated as follows : (number of institutions + number of branches)*100,000/adult population

Now for reality, not statistical misappropriations.

Nigeria: 182,201,962/100,000 = 1822 i.e 1822 groups of 100,000 Nigerian's
Kenya: 46,050,302/100,000 = 460 i.e 460 groups of 100,000 Kenyan's

Total Number of banks:
Nigeria = 22
Kenya = 42 (3 Nigerian)

Bank deposit as % of GDP
Nigeria = 17.9(2014)
Kenya = 36.4 (2014)

GDP
Nigeria: 570B USD (2014), where bank deposits is 92.5B USD i.e 17.9% of Nigeria's GDP
Kenya: 61B USD (2014), where bank deposits are 22.2B USD i.e 36.4% of Kenya's GDP

GDP per capita
Nigeria: 1,098 USD
Kenya: 658.7 USD

It's not the Nos of banks but how much are in it's vaults, how much profit it can generate, thereby returning taxes, how much it can borrow out to investors and finance and how much flows through it's books, thereby increasing service fees.

Kenya has more bank branches but its banking halls are empty , Nigeria is vice versa. Increasing the nos of branches only increases cost of operation and also increase cost of business to customers as they have to bear the cost.

iblawi:


Unfortunately for you I still have power right now. And besides I have lot of options to pick from when am ready to charge my phone. PHCN, generator, power bank, laptop, etc. Now you see why Nigerian are more productive than Kenyans.

The rest of your post show your level of stupidity when compared to all the argument you people have being putting up.

Haha, that surely is something ! You still have power thanks to your power bank.

UncleJJ:


You are wrong. It's one thing to cite a statistic and another to understand it and apply it with the least bias possible.

@TayserMahiri Please follow these calculations for future reference

Please correct me where am wrong.

I notice you are quite good in coding. But where are the calculations?

@OreMI22

Thefunny part is that their problem is worse than ours in but the pretend everything is well with them.

A country with just 2 cities and the entire inhabitants of the two cities is less than 1/5 of their population. So where do the rest stay?

Instead of spending time to learn about their country and her problems they prefer Google the problem of Nigeria and they think Nigeria does have influence over them.

The rainbow nation, My people I always tells the FLAT HEADS that : '' My People aren't divided but FLAT HEADS always said I am lying Today my people proved them wrong , Even my President never said anything to the protesters, I respect my government, But sometimes mistakes happened We are trying to solve our problem peacefully My President (Jacob Zuma)also understand that people must protest The point here is to prove FLAT HEADS we aren't divided like they use to claim on this forum Nothing personal in SA

iblawi:
@OreMI22

Thefunny part is that their problem is worse than ours in but the pretend everything is well with them.

A country with just 2 cities and the entire inhabitants of the two cities is less than 1/5 of their population. So where do the rest stay?

Instead of spending time to learn about their country and her problems they prefer Google the problem of Nigeria and they think Nigeria does have influence over them.

I guess the nigerian who started this thread loved googling Kenya too. No one is pretending everything is well here, we are just saying the topic of this thread is more than true, and the nigerian who started it must have been quite smart, probably visited Kenya before and felt so sad, decided to let nigerians know the pitiful state of their GIANT economy

MPSA:
The rainbow nation, My people I always tells the FLAT HEADS that : '' My People aren't divided but FLAT HEADS always said I am lying Today my people proved them wrong , Even my President never said anything to the protesters, I respect my government, But sometimes mistakes happened We are trying to solve our problem peacefully

Compare your third and fourth pics and you will see you are not together even though you have the same interest.

iblawi:


Compare your third and fourth pics and you will see you are not together even though you have the same interest.

I am here to prove you wrong nothing wrong about the picture the problem is with your head that is all. People want to see the economy of the country to the normal positions, My President understand the concerns of the people, it 's sad but we will cope

TayserMahiri:


Please correct me where am wrong.

I notice you are quite good in coding. But where are the calculations?

updated @ https://www.nairaland.com/3327789/kenya-ahead-nigeria-all-aspect/317#55366226

This is my people, we aren't divided, President Zuma is one of us, But people aren't happy about the current situation of the country.