Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.


Kenya's Mobile Cash Market Hits Sh627B in Q1

Article Image
The value of payments made through mobile money platforms in Kenya reached 627.4 billion shillings (US$6.04 billion) during the first three months of 2017, according to data from the country's regulator.

During the first quarter of this year, according to data published in the latest Communications Authority of Kenya sector statistics report, 290.5 million mobile commerce transactions were recorded. The number of mobile money subscriptions stood at 27.5 million, while the number of active registered mobile money transfer agents reached 174,018, up from 161,583 in the previous quarter.

The majority of mobile money subscriptions are for Safaricom's M-Pesa service, which recorded just over 19 million users at the end of March this year.

All of these data points demonstrate "a higher appetite for the service as an alternative to hard cash and card payment," according to the Authority.

The report also noted that the number of mobile connections grew to 39.1 million, from 38.9 million in the previous quarter. Pre-paid mobile subscriptions rose to 37.9 million from 37.5 million in the previous quarter, while post-paid subscriptions declined to 1.1 million from 1.4 million.

However, the country's mobile penetration rate dipped by two percentage points quarter-on-quarter to 86.2%, a decline "attributed to the review of the country’s population to 45.4 million up from 44.2 million as per the Economic Survey 2017," noted the report.

— The staff, Connecting Africa

Innovation hub

New develoPPP Ventures funding program for SA startups

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) has launched develoPPP Ventures, a new funding scheme offering up to €100,000 (US$106,950) for successful startups in South Africa.


Huawei using SA data centers to extend AI cloud adoption

Chinese multinational Huawei is using its three data centers in South Africa to extend artificial intelligence (AI) cloud adoption in the country.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Follow us on X

Industry announcements

More Industry announcements

Upcoming events

Cyber Revolution Summit
August 9, 2024
Gaborone, Botswana
Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives


Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.


The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.


Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives


Omdia View: May 2024

By Omdia Analysts

May 2024's telecoms highlights in the Middle East and Africa included African 5G subscriptions surpassing 5 million, growth from SpaceX's satellite Internet service Starlink, and a major fiber partnership in the Middle East and North Africa.


How e-mobility could transform Africa's transport sector

By Francis Hook

ICT analyst Francis Hook delves into Africa's e-mobility sector and unpacks the challenges faced locally and the benefits the move to electric vehicles could bring to urban transport systems.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up

Sign Up
Tag id test-002