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Kenyans Transact Ksh3.26 Trillion Through Mobile Money In Six Months

Mobile Money
[PHOTO/ COURTESY]

Kenyans transacted Ksh3.26 trillion through mobile money between January and June 2021, the Central Bank of Kenya has indicated in a new report.

This is as compared to Ksh3.06 trillion transacted through mobile between July to December 2020, indicating that Kenyans are continuing to embrace cashless transactions.

Compared to the corresponding period in 2020, the transactions grew by 52 percent, from Ksh2.1 trillion.

In June, Kenyans transacted Ksh532.63 billion compared to Kshh536.70 in May. In terms of daily average, Kenyans transacted Ksh17.8 billion, which was lower compared to a high of Ksh19.5 billion in December 2020.

Read: Safaricom Leads the Pack as Fastest Mobile Internet Provider in Q2 2021- Report

The number of registered mobile money accounts increased by six million to 67.8 million accounts at the end of June 2021 from 61.7 million at the end of June 2020.

The number of active mobile money agents increased to a record high of 301,457 in June 2021 as compared to 237,637 agents in June 2020.

Safaricom’s M-Pesa took the lion’s share of more than 90 percent of the total transactions and over 28.31 million active customers based in Kenya and more than 247,000 agents.

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Written by Francis Muli

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

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