Mobile money transactions in Kenya cross the KES 1 trillion mark again

Mobile money transactions in Kenya cross the KES 1 trillion mark again

Mobile money transaction in Kenya crossed the KES 1 trillion mark for the first quarter of 2019 according to data by the Central Bank of Kenya. This marked a slight growth from the last quarter of 2018 which was the first time the transactions crossed the KES 1 trillion mark. The statistics clearly show that mobile money is growing fast as a most preferred money transfer mode even between businesses and in government institutions.

The growth was boosted when in April 2018, telco companies enabled interoperability where customers could send money across networks. The popular money transfer services are market leader MPESA, Airtel Money and Telkom T-Kash.

Mobile money transfer in the last six months

Year Month Value (KES in billions)
2018 October 343.225
  November 343.866
  December 367.766
2019 January 368.017
  February 328.15
  March 368.39

The number of agents across the country increased from 201,336 in January this year to 226,957 in March while the number of mobile money accounts increased from 40.2953 million to 50.36 million in the same period.

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Author: Moshek Africa

Moshek Africa is a digital media research and development web service. The website offers informative content for a large audience interested in varied information. With a lot of interest in Kenya and the East African region tech, business, travel spaces, and Africa at large. It also covers universal content of interest to the world.