Kenyans transacted a staggering Sh1.9 billion through mobile money platforms within a period of three months, the Communication Authority of Kenya (CA) has announced.
In a new report, the Communication Authority reveals that Safaricom's Mpesa had the highest number of transactions from April to June 2018, with users moving a whooping Sh1.5 trillion via the platform.
Equity Bank's Equitel subscribers transacted Sh413 billion at position two followed by Airtel Money (Sh1.3 billion) and Telkom’s T-Kash (Sh118 million). Users on Mobile pay moved Sh972 million.
Within this period, a total of 727 million transactions were made through the mobile cash platforms, CA further says.
As at June 30th, the number of mobile money transfer subscribers and agents stood at 29.6 million and 206,940 respectively.
Out of the 206,940 mobile cash agents, Mpesa had 159,726 agents followed Airtel (24,533), T-Kash (16,554) while Mobile Pay had 6127 agents.
The report by CA further shows that money used to pay for goods and services through the platforms grew by Sh739.64 billion compared to the same period in the previous year.