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Browsing: Kenya Women Microfinance Bank Limited
- Central Bank of Kenya says active mobile subscriptions hit 66.8 million by December 2023 compared to 65.7 million a year earlier.
- Increasing usage of mobile money saw the banking industry in Kenya experience a drop in the value of banking transactions via bank agents to $10.5 billion.
- Kenya is a trailblazer in the adoption and usage of mobile money across Africa.
A steady rise in the use of cashless transactions as well as the opening of 8,555 new mobile money agent shops in Kenya drove the value of mobile money transactions up by 13.8 percent to record KSh788.35 billion or $6 billion in 2023.
Kenya has been a trailblazer in the adoption and usage of mobile money across Africa since the launch of pioneer cash transfer platform M-PESA by Safaricom PLC in 2007.
“Amidst the increasing adoption of technology and the widespread use of mobile phones in daily life, coupled …