Low income families in financial crisis (Kenya Slums) should be offered vouchers that could transform their livelihood by a great extent. This would transfer spending responsibility to a certain authority. A smart move to fight off poverty.
Impoverished families who need a crisis loan to help them over a domestic disaster will be lucky if they get cash which could be used for merry-make. A voucher will not allow such. Therefore financial discipline gets instilled.
Such vouchers could be restricted to the merchandise of socially unacceptable products such as cigarrates and beer. In united Kingdom they are commonly known as Store Cards which is legally acceptable.
Vouchers may please and shock people in equal measure. Either way, the locally-administered social fund has the potential to be a welfare disaster in the making, not least because the total budget available for social fund help is being cut at a time when demand from potential recipients is likely to soar.
This would be the best initiative ever that the Government of Kenya wants to throw into the dustbin. Donor funding to Africa Nations is being decimated and this could salvage the situation.
Local authorities are being handed a reduced pot of money, and an overwhelming budget. The pot of needs: Health, Education, Infrastructure among other social-economic community wants.
My Concern is: If M-Pesa…..Debit Cards…..Credit Cards….Varied Forms of Digital Currency are legally Accepted-Why would the slum dwellers of Bangladesh-Mombasa be denied such a privilege?
Am Privy of People’s perception and the manner in which the vouchers could be used with dexterity to avoid skewed Monetary Data in Kenya.
Let’s get conceited, get a comprehensive synopsis of the same from renowned Economists and Financial analysts.