Safaricom Extends Lead on Mobile Money Transfers

Tuesday, January 24, 2017

Safaricom has expanded the value of mobile money transfers under its M-pesa platform by 4.45, latest industry data shows, as the company continues to lead in the mobile money market.

The value of money transacted on M-pesa in the first quarter of the 2016/17 financial year (July to September) was Sh851.07 billion, up from Sh807.09 billion in the previous quarter.

The Communication Authority of Kenya data released on Thursday shows Safaricom’s mobile money transactions stood at 326.8 million as of September 2016, accounting for 81.58 per cent of the total mobile money transactions in the country.

During the quarter under review a total of 400.6 million transactions were made valued at over Sh1 trillion.

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

digital payments, fintech