Kenyans Moved Ksh 450 Billion Via Mobile In One Month

Kenyans transacted over 450 billion shillings via mobile platforms during the month of July according to data from the Central Bank of Kenya (CBK).

For the month of July alone, Kenyans moved 450.98 billion shillings, an increase of 14.96 percent from the month of June.

In June, according to data from CBK, Kenyans transacted 392.17 billion shillings as the transactions kept on rising steadily.

CBK says the transactions for the month of July included cash transfers as well as payment for goods and services via cashless means.

In the first 7 months to July 2020, Kenyans transacted 2.595 trillion shillings via mobile platforms. This was an increase from 2.502 trillion shillings recorded at a similar period in 2019.

In Kenya, M-Pesa is the most popular mobile money platform that allows individuals to send cash, receive cash, and pay for goods and services.

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M-Pesa, according to the majority of Kenya is spread across the country as compared to others hence available and accessible for customers who want to deposit or withdraw their money.

Most banks in Kenya have also partnered with M-Pesa to have customers move their money from their bank accounts direct to their M-Pesa wallet without the trouble of having to physically visit the bank.

The increase in mobile transactions for the month of July has been attributed to the efforts by the government to lessen some of the Covid-19 restrictions that included the cessation of movement in and out of the country.

The coming of Covid-19 also presented an opportunity for Kenyans to embrace the use of mobile money platforms. The World Health Organisation (WHO) called on people around the world to avoid using banknotes as they carried the risk of spreading Covid-19.

In Kenya, President Uhuru Kenyatta called on Kenyans to embrace the use of cashless forms of transactions in sending and receiving cash to cut down on the spread of Covid-19.

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