Kenyans send Ksh1.2 trillion via mobile between April and June
By David Indeje / October 2, 2017
Payment of goods and service through the mobile money transfer platforms hit Ksh692 Billion between April and June according to Communications Authority of Kenya (CA).
Statistics by the CA, “The value of KSh.692 billion is quite significant compared to Ksh102 billion in December 2015.The number of mobile commerce transactions stood at 316.5 million.”
This was a 71.27 percent increase from KSh404.1 billion transacted during the same period last year.
“The positive growth witnessed in the mobile money transfer service was largely driven by the widespread use of mobile money solutions and adoption of the service among traditionally underserved groups (rural populations), and increasingly broad range of mobile money services (including insurance and loan products) in Kenya,” reads part of the report.
The Internet/ data market segment experienced positive growth during the financial year 2016/17 with a total number of Internet subscriptions hit 29.6 million, translating to an increase of 15.2 percent from 25.7 million in the previous quarter.
“The growth was driven by 15.3 percent increase of in mobile data subscriptions to 29.4 million at the end of the quarter, which accounted for approximately 99 percent of the total subscriptions,” the report noted.
During the review, Safaricom took the bulk of the share where M-Pesa accounted for 66.72 percent of the mobile commerce transactions valued at KSh461.82 billion.
This was, however, a drop compared to the same period last year, when the giant telco controlled 79.96 percent of commerce transactions valued at KSh323.18 billion.
Equitel, the mobile money product from Equity Bank, came in second, accounting for 32.33 percent of the total mobile commerce cash valued at KSh 228.05 billion. This is a jump from 17.34 percent market share the platform held the same period last year, valued at KSh70.09 billion.
Airtel came in third at 0.33 percent of transactions valued at KSh2.28 billion compared to last year when its mobile commerce transactions accounted for 2.69 percent valued at KSh10.89 billion.
Orange Money and Mobikash processed transactions valued under KSh10 million. The regulator did not publish the value of transactions through MobilePay.