Mobile money Stories
Mobile lending apps lead in most markets, especially Uganda (37 per cent), Ghana (33 per cent), Kenya (30 per cent), Tanzania (27 per cent), and Niger...
The suspects, identified as Peter Mwendwa Musyoka and his son Dennis Musyoka, were apprehended at their Nyama Villa estate hideout by Shauri Moyo dete...
The proposal aims to reduce the average cost of person-to-person (P2P) mobile money transactions from Sh23 in 2024 to Sh10 by 2028, while capping char...
Similarly, the average number of monthly transactions increased to 223.5 million, compared to 202 million in 2023 and 190 million in 2022.
This trend comes as more customers shift to fully digital solutions, including app-based payments and automated kiosks, which perform many functions t...
The growth is largely attributed to the widespread adoption of mobile money platforms, which continue to reshape the country’s financial landscape.
In 2024, 32 per cent of Kenyan adults borrowed from mobile money providers, the highest share in the region.
During the quarter under review, mobile money subscriptions rose by 7.27 million to hit 85 million, while an additional 89,389 active agents were brou...
Mobile transactions jumped 9.3 per cent from the previous year’s total of Sh7.95 trillion.
The previous year saw mobile money growth slow to its lowest rate in four years, largely due to a 25 per cent hike in taxes on transactions.
The rise in subscriptions has been attributed to better network coverage, affordable smartphones, and improved mobile services.
The CBK has supported this shift by granting approvals to Safaricom, Telkom Kenya, and Airtel Kenya to raise daily transaction and account limits.
Airtel's policy change allowed users to receive funds directly into their e-wallets without being compelled to withdraw within a week or risk having t...
The latest report by Kenya's most funded fintech, M-Kopa, for instance, indicates that the demand for loans has surged.
The addition of M-Pesa Ratiba reaffirms Safaricom's commitment to its vision of transforming lives.
The bill seeks to force telcos to separate their mobile money services—M-Pesa, Airtel Money, and T-Kash—from voice, data, and SMS offerings.
The growth is mainly attributed to the upsurge in mobile money transactions and increased diaspora remittances in the period under review.
The value of money that was transacted in these deals went up to Sh788.35 billion in December, up from Sh707.55 billion in the previous month.
Airtel Kenya hopes the change expands its mobile money market.
CBK last year granted Safaricom, Telkom and Airtel approvals to increase the daily money transaction and account limits.
