@DailyNation

Mistrust pushes fishermen to bank in mattresses - 11 months ago, 14 Mar 11:30

By: Barack Oduor

People and banking may be old talk in Kenya today, but not among the fisher communities on the shores of Lake Victoria. Tom Oginga, a fisherman at Kisegi Beach in Suba South, earns about Sh1,500 daily from fishing. He has no bank account. BANK His bank, he told us, is sometimes under his mattress. Other times, he keeps the money in his pocket, churning it out from time to time, often without a budget or plan. Mr Oginga, a veteran fisherman now in his 50s, is not bothered by the existence of mini microfinances and bank agents in the nearest trading centres. His first problem, it appears, is distance. His second, is credibility: Will these guys flee with my money? Or will they be around when I need them? "I do not trust small community banks and their agents in our beaches. I feel my money is safe when I ...
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