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


Connecting Africa Podcast: S2 Ep. 4 – Agri-fintech, from kibbutz to Kenya

The Connecting Africa Podcast team speak to Israeli-Kenyan startup Avenews' co-founder and CEO, Shalom Ben-Or, about his fintech super-app that has been built specifically for Africa's agriculture industry.


Hot startup of the month: Cloud-native developer Deimos

This month's hot startup is pan-African cloud technology and professional services company Deimos which is on a mission to be the leading cloud-native technology company in Africa.

More Innovation hub

Flash poll

All polls

Partner perspectives

All Partner Perspectives

Africa Tech Perspectives


Women in Tech: Spotlight on inclusivity with Digital Council Africa's Juanita Clark

Digital Council Africa founder and CEO, Juanita Clark, talks to Connecting Africa as part of our Women's Month series about her career and what needs to be done to make the tech industry intentionally inclusive.


Women in Tech: Spotlight on legal tech with Life.file's Sinal Govender

Life.file co-founder, Sinal Govender, talks to Connecting Africa as part of our Women's Month series about her career and how we can encourage more young girls to enter the legal tech field.


Digital inclusion as a catalyst for economic empowerment: Mastercard's Imelda Ngunzu

Mastercard's Imelda Ngunzu talks to Connecting Africa about how digital payment solutions and mobile money are transforming the lives of small business owners, women and marginalized groups in East Africa.

More AfricaCom perspectives

Latest video

More videos

Industry announcements

More Industry announcements

Guest Perspectives


Omdia View: July 2022

By Omdia Analysts

Kenya and Zambia move towards 5G with new spectrum allocations while Tunisie Telecom plans to shut down its 3G network - that and more in this month's Omdia View.


Omdia View: June 2022

By Omdia Analysts

5G was the major news trend across Africa in June, as Orange became the first operator to launch 5G in Réunion and operators in Senegal accelerated their 5G plans despite spectrum delays.

More Guest Perspectives

Sponsored video

More videos

Like us on Facebook

Newsletter Sign Up

Sign Up