Mobile payments up 21pc in 2015

The value of funds transacted through mobile phones in Kenya stood at Sh2.8 trillion in 2015 over increased penetration by mobile agents.

Thursday March 17 2016

The value of funds transacted through mobile

The value of funds transacted through mobile phones in Kenya stood at Sh2.8 trillion in 2015 over increased penetration by mobile agents. PHOTO BY STEPHEN OTAGE 

By OTIATO GUGUYU
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The value of funds transacted through mobile phones in Kenya stood at Sh2.8 trillion in 2015 over increased penetration by mobile agents.

The mobile payments grew by 21 per cent in the period to December 2015 from a total value of Sh2.3 trillion a year earlier according to CBK data.

Number of agents increased by a whopping 20,000 from 123,703 at the end of 2014 to 143,946 in December 2015. This is up from a mere 50,000 agents five years ago serving 19 million customers.

There are now over 31.6 million mobile money customers transacting in the country.

This phenomenal growth saw the number of mobile transactions jump from 911 million to 1.114 billion during the period under review.

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