M-Pesa Dominates Kenyan Mobile Money Market – Will a Challenger Emerge From Telkom-Airtel Merger?
By Harry Baldock
The Communications Authority (CA) of Kenya’s most recent figures show that M-Pesa is a runaway leader in the country’s mobile money market, with a market share now risen to around 98.8%.
Safaricom and Vodacom’s M-Pesa has been dominating Kenya’s money market for a long time. Since its launch in 2007, the mobile money service has become an integral service for the country’s economy, reportedly processing around 50% of the country’s GDP per year.
Part of this success comes in its flexibility. With many Kenyans migrating from rural to urban areas for work, M-Pesa allowed people to quickly and easily transfer money to their rural relatives.
Photo courtesy of Fiona Graham.
Source: Total Telecom (link opens in a new window)
- Finance, Technology