Tuesday
April 2
2019

Report: Mobile cash transactions averaged Sh15 million per minute in Kenya in 2018

By Cynthia Ilako

Mobile money transactions in Kenya hit an average of Sh14.93 million per minute last year, according to the latest data from the Communication Authority.

For every hour Sh21.5 billion was being deposited, withdrawn or used to pay for goods and services via mobile money.

At least Sh7.85 trillion was transacted in the form of deposits and withdrawals as well as mobile commerce transfers, 91.39 per cent of the value of Kenya’s GDP at Sh8.59 trillion. This was a 35.25 per cent increase from Sh5.8 trillion transacted in 2017.

Photo courtesy of Scott Mainwaring.

Source: The Star, Kenya (link opens in a new window)

Categories
Finance
Tags
Airtel, fintech, mobile money, Safaricom, telecommunications