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Mobile money deals hit Sh3.4tr in 11 months last year

During the 11 months, according to CBK, the largest transactions were done in March, where they stood at Ksh 329.6 billion (US$3.2 billion)

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Kenya’s mobile money transactions rose 6.5% in the first 11 months of 2017 as compared to a similar period last year, Central Bank of Kenya said in a report released on Thursday.

Transactions valued at Ksh 3.4 trillion (US$33 billion) were made between January and November 2017, up from Ksh 3.2 trillion (US$31 billion) in a similar period in 2016.

The surge showed that the country would surpass 2016 figures in use of the service, which stood at the Ksh 3.4 trillion (US$33 billion) mark.

READ: Four popular Nairobi night clubs face closure

During the 11 months, according to the apex bank, the largest transactions were done in March, where they stood at Ksh 329.6 billion (US$3.2 billion), while the least was recorded in February at Ksh 278.1 (US$2.7 billion).

The number of people employed as agents in the sector also surged significantly in 2017, peaking at 176,986 in November, having started at about 150,000 in January.

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