A recent report by the Communications Authority of Kenya shows that 90 per cent of the total amount of money transacted in the first
quarter of 2016 was through Safaricom’s platform M-Pesa. Kenyans transacted close to a trillion shillings on their mobile phones in the
first three months of 2016, as cash-less economy slowly takes root in the country. Equity Bank’s Equitel Money, leap-frogged Airtel
Kenya as the second largest mobile money transfer service. According to the report, Equitel customers managed to transact about
KES 62.4 billion in the first three months of 2016 against Airtel Kenya’s KES 12.3 billion. The latest figures from the Communications
Authority of Kenya (CA) shows that the value of mobile money transactions between January and March this year stood at KES 840.3
billion. “Overall, there was increased activity in mobile money usage during the period and this was attributed to the busy back-to-
school season during which parents and guardians actively deposited, transferred, withdrew, paid school fees and purchased other
goods and services using this platform due to its reliable and convenient nature,” read the report.
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