But which regulations are these that they need? Moneybookers works here right? VISA, Mastercard etc all transact comfortably. What regulations or rules do they need implemented? Can they be more specific?


On Wed, Jan 8, 2014 at 1:46 PM, Oliver Ndegwa <olie.ndegwa@gmail.com> wrote:
PAYPAL: Today I managed to call Paypal and asked them: Why paypal users in Kenya are not able to withdraw funds directly to a local commercial bank. And the only existing solution is where Equity Bank Kenya has to act like an agent for a commercial bank in South Africa (this makes the process lengthy and expensive). Paypal response was Central Bank of Kenya has no favorable regulations that would provide a suitable framework for PayPal to work directly with Commercial banks in Kenya.

There are hundreds of thousands in opportunities to work and sell online with the rest of the world. Paypal is one of the preferred methods of payment which is NOT fully available for users in Kenya. 

If the PayPal avenue opens, residents in Kenya will be able to sell handicraft, paintings on ebay, sell digital goods like software, apps and also publish ebooks and sell them with ease, there is also available work in research, outsources writing.. the list is endless.

Dennis Itumbi if you have a goal to double diaspora remittances with your ideas.. then this is one method that will not only increase labor and digital export but will create employment to hundreds of thousands of hardworking kenyans

According to World Payments Report 2013 - 
Global non-cash payments transactions grew 8.8% in 2011 to reach 307 billion transactions

Mature markets - accounted for 77% of the total volumes but as reported last year, growth rates are higher in the developing markets–18.7% versus 6.2% in the mature markets in 2011

Much of the growth in the developing markets was driven by Emerging Asia, and Central Europe, Middle East, Africa (CEMEA).

These regions have a low share of the global total of non-cash transactions, but investments in payments services and infrastructure are helping them to grow significantly off a low base.


[[What is Kenya doing to take a share of this growing market and provide employment to Youths ? - A simple legislation is all that is needed. no hefty budgets.. just make Laws and create at least 100,000 FULL TIME Jobs by June this Year and may be another 400,000 part time Jobs in the same period]]  #someonetellthecentralbank!!!!!

Oliver

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Regards,

Mark Mwangi

markmwangi.me.ke