A Cashless Economy Would Be A Denominator In Preventing Spread of Coronavirus

Coronavirus is spreading like bushfire. Already more than 90 countries have reported positive cases with numbers piling up each passing day.

The total number of infections by Sunday was above 105,000 while the total number of deaths was above 3,800. Most numbers of deaths and infections have occurred in China, especially in the city of Wuhan.

The spread of the coronavirus is so scary and so severe that the United States of America expects at least 96 million infections and at least 500,000 deaths according to a leaked document.

In Africa, nine countries have reported positive cases of Coronavirus. The leading country in Africa in terms of infections is Egypt with more than 55 infections. Egypt has also become the first African country to register the first death from Coronavirus on African soil.

The East African region is yet to report any positive case of the deadly Coronavirus. All the suspected cases in Kenya, for instance, have turned out negative with at least 14 counties put on higher alert by the Ministry of Health.

Although the number of confirmed cases in Africa remains low, experts say it is not a matter of if but when. Bill Gates says the virus will have more effects on Africa than on any other continent. In fact, he says that the virus is likely to kill at least 10 million people in Africa.

The World Health Organisation (WHO) released a list of things/items that people around the world should avoid/minimize touching or coming in contact with an effort to combat the virus that is sweeping across the globe.

““Banknotes can carry Coronavirus. But do not be too alarmed: the risk is small. Unless someone is using a banknote to sneeze,” says the WHO.

According to the World Bank, coins are safer to use as compared to banknotes in the wake of the Coronavirus. “Coins are actually very bad environments for viruses to survive.”

People should also avoid touching door handles. The WHO says “be mindful of where you touch the handle and wash your hands frequently to combat this virus”

Among the things that WHO listed, one stood out and left people talking about it; banknotes. WHO cautioned people to minimize the use of banknotes, though clarified that the risk of getting infected through them was “low” but good to take precaution.

How Kenyans Can Avoid Using Banknotes

For more than 10 years, Kenya has remained ahead of 20 other countries as a giant in financial inclusion, thanks to the deep-rooted mobile money platforms/banking such as M-Pesa.

It is undisputed fact that Kenya is the brainchild of M-Pesa and that the platform is one of its own kind in Kenya and beyond. In fact, this was one of the main reasons why Mark Zuckerberg, the CEO, and Founder of Facebook came to Kenya “to admire.”

Through M-Pesa, Kenyans can do virtually anything that involves transacting without having to come in contact with hard cash, hence, joining the world in fighting the coronavirus that is threatening the world’s very existence.

The following can be done through M-Pesa:

Depositing the cash you have to your M-Pesa Account

Moving money from your bank account to your M-Pesa account.

Paying for goods and services

Sending and receiving cash through M-Pesa

Growing savings through M-Shwari among others

Kenyans, being the leaders in financial inclusion puts them ahead of other countries in the continent and in the world to go cashless and prevent the spread of coronavirus. There are various advantages that come with paying with M-Pesa such as:

Convenience: With M-Pesa, one can make payments anywhere at any time within their comfort zones. Also, it makes sure that one pays the exact amounts. No more people running around looking for a change.

Saves time: It is fast and helps in saving time, in the event, one has to cash in large volumes or needs the retailer to look for change.

Security: Your money is more secure on M-Pesa than it is in cash.

Helps retailer to organize their books, secure their cash and also minimize coming in contact with banknotes from multiple sources.

However, there is likely to be a small challenge when it comes to using Matatus. Almost all of us pay for our matatus in cash. Is it possible for matatu operators to be encouraged to adopt the use of Lipa Na M-Pesa?

READ: Avoid Using Banknotes To Combat Coronavirus – WHO