Kenya: mobile money hits USD 21 bln as transactions surge

Tuesday 13 January 2015 09:02 CET | News

The value of mobile money transactions in Kenya has amounted to KES 1.94 trillion (approximately USD 21 billion) in the first 10 months of 2014, according to Central Bank payments systems data.

This was an increase of more than a quarter (26%) over the KES 1.54 trillion (around USD 16 billion) transacted over a similar period in 2013.

October 2014 recorded the highest number of transactions in Kenya, with 82.89 million transfers. The total value was also highest in the month at KES 210.28 billion (USD 2.3 billion), meaning subscribers transferred about KES 6.78 billion (around USD 74 million) daily.

Mobile money agents number grew to 128,706 in October 2014, surging by 14,599 new agents over the 10 months - as active mobile money users oscillated between 25.77 million and 26.3 million in the period.

The monthly value of transactions remained above KES 200 billion (approximately USD 2.1 billion for the fourth consecutive month, according to the CBK data.

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Keywords: Kenya, mobile money, transactions , central bank, CBK, agents, payments
Categories: Payments & Commerce
Countries: World
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