(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.