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Monday, August 01, 2011
Michael Joseph Appointed World Bank Advisor
Former Safaricom Boss Michael Joseph has been appointed as the first World Bank fellow to help in the steering on of a new global fellowship program that has been established by the World Bank to encourage the flow of knowledge and innovative ideas between high level experts in their field.
Mr. Michael Joseph will advise the bank and governments on spreading the use of mobile banking, drawing on his knowledge and experience in the telecommunications service.
Speaking at the launch of the fellowship program at its headquarters in Nairobi, the World Bank Country Director Johannes Zutt said that through sharing of knowledge on telecommunication innovations including mobile money will make an important contribution to Africa's reform and development.
"Michael Joseph's participation in the world bank fellows programme will leverage the banks interventions in technology and financial services in new frontiers in line with our new Africa strategy" , Zutt said.
He added that the fellowship program will enable the bank to attract global technical and policy experts for three months to a year to provide new perspectives on policy, performance and implementation.
He further added that the fellows will also contribute to policy analysis, advise governments, promote knowledge sharing and bring cutting edge solutions.
"I am really deeply honored to have been selected as the first fellow by the World Bank to share my knowledge and experience in mobile innovations.
I am delighted to work with the leading development institution and be part of the global effort to fight poverty." Michael marveled.
The World Bank Fellows Program will incorporate individuals within academia, government and private sector who are interested to come on short term assignments to the World Bank
In Kenya, mobile connectivity has increased rapidly, creating opportunities for financial transfers and information stage.
The World Bank's December 2010 Kenya Economic Update estimated that more than 21 million Kenyans have access to phones, with 15 million using mobile money services.
In December 2010, mobile money services in Kenya reached a new record of almost Ksh 80 billion (US$ 1 Billion) in transactions.
Michael Joseph who sits on the board of Safaricom has been credited with the success of the internationally renowned M-pesa, the mobile money platform that enables subscribers to make payments and move cash at a low cost cutting out intermediaries.