Monday, 2 September 2013

Kenya sees mobile money transfers thriving

The Central Bank of Kenya (CBK) has reported that mobile money transactions reached USD 10.02 billion in the first half of 2013. BusinessGhana noted that this was up some USD 1.67 billion on the same period in 2012, from USD 8.35 billion dollars.

Kenya Mobile money transactions by US$ 1H 2013

Source: BusinessGhana/Central Bank of Kenya

Safaricom accounted for 90 percent of the transactions, with over 17 million subscribers to its M-PESA service. M-PESA charges increased by 10 percent in February following a rise in excise duty. The number of mobile money subscribers rose to 23.8 million at the end of June, up from 22.3 million in March.


John Summers
for 'Africa & Middle East Telecom-Week'