
Kenya’s Mobile money transactions hit Sh2.5 trillion
The value of mobile money payments rose by 11.1 percent to hit Sh2.5 trillion in the first seven months of this year, new data from the Central Bank of Kenya (CBK) shows.
The increase happened even though the actual figures from month- to- month fluctuated between Sh328.2 billion and Sh368.4 billion. The total value for the seven months was Sh2.5 trillion compared to Sh2.25 trillion in July last year.
In July, the value stood at Sh366.4 billion, about Sh20 billion up from June’s Sh346.8 billion. Compared to July last year, the upward change was higher at Sh34 billion or 10.2 percent.
The change underlines the rising popularity of the mobile money in transactions where many banks, mobile lenders, savings and credit societies and merchants have also been linking up with the mobile b