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Kenyans Moving Ksh50 Billion Daily Via Mobile Money – CA

Mobile Money
[PHOTO/ COURTESY]

Kenyans moved an average of Ksh50.1 billion daily in three months between January and March 2021, data from the Communication Authority of Kenya (CA) has shown.

This means that in the whole period, Kenyans transacted a record of Ksh4.5 trillion in just one quarter.

The number of active registered mobile money subscriptions increased to 33.1 million from 31.5 million subscriptions in December.

Customer to business transfers (C2B) went up 10.2 per cent to Ksh1.1 trillion while business to customer (B2C) transfers stood at Ksh664.7 billion.

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Business to business (B2B) transfers rose by 4.1 percent to Ksh1.8 trillion while government to citizen transfers (G2C) fell by 53 per cent to Ksh3.4 billion.

Kenyans now hold Ksh1.2 trillion inside the mobile-money eco-system as deposits as compared to Ksh1.1 trillion held as of December 2020.

Active mobile money agents dropped to 257,907 from 264,390 in 2020.

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Written by Francis Muli

Follow me on Twitter @francismuli_. Email francis@kahawatungu.com

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