mobile phone
mobile phone

The number of mobile subscriptions rose by 2.8 percent to 40.2 million in the three months to June (fourth quarter) compared to 39.1 million in the third quarter, latest statistics from the regulator reveals on Saturday.

The report by Communications Authority of Kenya (CA) indicates the mobile penetration level rose by 2.5 percentage points to stand at 88.7 percent from 86.2 percent recorded in the previous quarter.

“The quarter under review saw only three operators’ record marginal changes in their market shares. Safaricom Limited registered an increase of 0.7 percentage points to stand at 72.6 per cent from 71.9 per cent recorded in the previous quarter,” says the report.

According to the report, payment of goods and service through the mobile money transfer platforms hit 6.92 billion U.S. dollars.

The value of 6.92 billion dollars is quite significant compared to 1.02 billion dollars in December 2015, when the industry regulator first captured these statistics in its quarterly reports.

“The number of mobile commerce transactions stood at 3.16 million dollars while person to person transfers were valued at 5.41 billion dollars,” the CA report shows.

The report covering April/June indicates that the number of mobile money subscriptions stood at 28.0 million while the number of agents was registered at 180,657.

During the quarter under review a total of 480.5 million transactions (withdrawals and deposits) valued at 12 billion dollars were made.

“The positive growth witnessed in the mobile money transfer service was largely driven by the widespread use of mobile money solutions and adoption of the service among traditionally underserved groups (rural populations), and increasingly broad range of mobile money services (including insurance and loan products) in Kenya,” says the report.

Mobile money has become an integral part of commerce in Kenya over the past decade.

It has evolved to become a loan disbursement tool, adding to other uses such as peer transfers, betting, as paying for shopping, utility bills (water, rent and electricity), school fees, and receiving dividends. Enditem

Source: Xinhua/NewsGhana.com.gh

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