
Kenya is developing into a hub for electronic payments, and is likely to become a focal point for wider growth across east Africa. A number of economic and demographic factors have driven the growth of the Kenyan cards and payments industry. The country is renowned as one of the most peaceful and stable in Africa. Demographically and economically, the country is well positioned, with an average age of just 18, and expectations of healthy GDP growth over the forecast period (2014–2018). Young populations are typically more willing to embrace innovation and technology, and have long working lives ahead of them, making them more likely to become wealthier and consume more banking products and services.