Kenyan mobile money transactions rise to Kshs 1.7 trillion

Kenyans have made 661.6 million transactions value at 1.7 trillion shillings through mobile money transactions between July and September.

According to a Communications Authority first quarter report for financial year 2019/2020 the increase of mobile money services was driven by increased access to mobile network signal and exciting product offers by the telecos that pushed mobile penetration to 112 percent.

According to the report, he number of active mobile money subscriptions and agents stood at 31.2 million and 235,168 respectively.

The period saw 661.6 million transactions undertaken, valued at over KSh.1.7 trillion. During the period under review, there were 425.3 million mobile commerce transactions valued at KSh.1.6 trillion.

Person-to-Person Transfers were valued at KSh. 665.0 billion. The increased money transactions were buoyed by increased mobile penetration that was driven by innovations by telecos and consumers owning more than one Sim card to take advantage of the diverse services.

The enhanced promotions and special on-voice offers also pushed the local voice traffic originating from mobile networks up by 10.4 per cent during the quarter under review to 17.8 billion from 16.2 billion minutes registered during the previous quarter.

Significant traffic emanated from roaming within the East African Community especially from countries within the One Network Area  regime that are enjoying relatively low calling rates, with the bulk originating from Uganda, South Sudan and Rwanda.

On the other hand  data/Internet subscriptions rose by 4.1 per cent to 52.0 million, from 49.9 million reported in the previous quarter.

Mobile data subscriptions accounted for 99.3 of total data subscriptions; this according to the report was driven by increased population coverage of 3G and 4G networks, availability of affordable smartphones and data plans, and increasing consumption of e-commerce, e-government, social media and other online content.

There was a marginal decrease in cyber threat events, with 25.2 million events recorded by the National Kenya Computer Incident Response Team/Coordination Centre (National KE-CIRT/CC) compared to 26.6 million cyber threat events detected in the preceding quarter.

CA says it will continue with its interventions to enhance communication services across the country with CA indicating that it has so far connected 68 sub locations to 2G mobile services and the Education Broadband Connectivity project that has connected 887 public secondary schools to high speed Internet.


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