Researchers discuss the business and price effects of a cash transfer programme delivered to 400,000 refugees in Kenya each month in the form of digital money for buying food at licensed shops. There is mounting empirical evidence around the positive and persistent effects of cash-based assistance on direct recipients but there is limited research on the indirect effects of cash-based assistance on local businesses. This project examines the business and price effects of a cash transfer programme delivered to 400,000 refugees in Kenya. The programme had large impacts on prices and businesses, which can be explained by the presence of market imperfections in the camp.