Kenya’s mobile money transactions hit KES1 trillion

Tuesday, August 12, 2014

Statistics from the Central Bank of Kenya indicate that Kenyans transferred over KES 1 trillion between January and June this year.

This represents a 26% growth as compared to the same period last year, when KES 872.1 billion was transacted.

This growth has been attributed to increasing competition in the mobile money market, with more customer-centered services being launched.

The most prominent example of these services being Safaricom’s Lipa na M-Pesa, an offering that allows subscribers to pay for goods and services directly from their mobile phones at no extra cost.

Source: ITWeb Africa (link opens in a new window)

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Base of the Pyramid, financial inclusion, financial innovation, financial services, mobile money