Mobile Money Transactions Hit Sh2 Trillion in 2014 in Kenya

mobile money
Moile Money in Kenya Photo Credits

CapitalFM: Kenyans sent over Sh2.146 trillion shillings using mobile money system in 2014, surpassing the Sh1.8 trillion 2014/2015 national budget.  According to statistics provided by the Central Bank of Kenya, there were 825 million mobile transactions up to November 2014, compared to 732 million transactions in 2013.

Kenyans made an average of 75 million mobile money transactions in 2014, with October having the highest number of transactions at 82 million. Mobile money transaction in Kenya has grown exponentially. In 2007, the total amount of money that moved across the mobile system, was Sh16 billion.

M-Pesa has the largest market share with 17 million active users. Airtel Money and Orange Money have 3.8 million and 2.1 million subscribers respectively. Equity’s Equitel has signed 140,000 users, months before it officially goes live.

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