Kenya leads in mobile money transactions in Sub-Saharan Africa
The World Bank has ranked Kenya as a country with the highest user of Mobile Money Transactions in Sub-Saharan Africa.
The international lender said Kenya emerged top with a 68% score beating Sudan (52%) to second place while Gabon was third with 50%.
“Kenya is the highest user of mobile phones for money transactions in the Sub Saharan Africa region,” reads a tweet.
According to the Communications Authority (CA), Kenyans performed 425.3 million mobile commerce transactions between July and September 2019.
The quarter also reported 31.2 million mobile money users, as well as 235,168 agents that serve the end-users.
Millions of transactions were also performed over the period that was valued at Ksh 1.7 trillion. The CA says that person to person transfers were valued at Ksh 650.0 billion.
The report revealed that more than 70% of the transactions, which included loans, savings and cross-border transfers, were made via M-Pesa, the world’s leading mobile payments provider.