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Kenya recorded $19.6 bln mobile money transactions in Q3, 2018 due to high penetration rate  

Wednesday, 19 December 2018 16:30
Kenya recorded $19.6 bln mobile money transactions in Q3, 2018 due to high penetration rate  

(Ecofin Agency) - On December 18, 2018, the Kenyan communications authority revealed that the mobile money segment recorded 730.2 million operations in the third quarter of 2018, amounting to Ksh2 trillion ($19.6 billion).

This represents a 19.45% rise on a year on year basis. Indeed, in Q3, 2017, the mobile money segment recorded 611.3 million transactions for about $18.6 million in value.

According to the regulator, the dynamic in the segment in June-September 2018 was spurred by an increase in the penetration rate of mobile money, which exceeded 100%, in the country. It rose from 97.8% at the end of June 2018 to 100.1% in September 2018. This growth is the result of investments made by telecom operators for the extension of their network and improvement of the quality of their services.

The regulator indicates that following this improvement of the mobile money penetration rate, the number of active subscribers rose from 45.5 million to 46.6 million; a 2.4% rise.





 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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