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Mobile money transfer hits new Sh2 trillion record

Mobile payments have for the first time hit Sh2 trillion, reflecting vibrant growth in Kenya’s e-commerce sector. The Q1 2018/19 first report released yesterday by the Communications Authority of Kenya (CA) covering July-September shows that 730.2 million transactions valued at Sh2.027 trillion were recorded up from 611.3 million transactions valued at Sh1.9 billion the previous quarter.

Mobile commerce transactions accounted for 76 per cent of total payment value, accounting for Sh1.55 trillion from 526.9 deals, 8.8 per cent increase compared to the previous quarter.

Person-to-person transfers were valued to Sh718.2 billion, with active mobile money transfer subscription growing by 120,000 users to 29.79 million from 29.67 million by end of 2017. Number of registered mobile money agents grew slightly during the quarter under review to 218,495 from 206,940 in June.


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