Kenya nearing half point: 49% of all who use banking services, do so on mobile

We've been reporting on mobile banking and money and payments. One of the most rapidly-growing success cases comes out of Kenya. We've told you earlier that 20% of the population in Kenya ie 7.6 million people have traditional banking accounts. Now the AllAfrica.com news service reports that the active user base of Kenyans who transfer money on a mobile phone account (M-Pesa on Safaricom or Zapp on the Zain telecoms network) has reached 7.4 million people. Thats now 49% vs 51%, almost half-point. Note that M-Pesa launched mobile banking in Kenya only 3 years ago.

We also learn from the Central Bank of Kenya that the average daily transfer level of mobile payments has grown enormously and now is at 1 Billion Kenyan Shillings (10 million US dollars) per day. There were 125 million total mobile payment transactions last year, meaning that across the active user base, they send on average 1.4 payments via phone per month, and the average amount of money sent per transaction is 29 dollars. Bear in mind that many of the users of the mobile banking services earn about a dollar per day. So this is easily a month's wages for many of its users. The total transaction volume grew 5-fold last year.

Comments

[em]

Soon Kenya or Africa as a whole will have the most advanced payment system in the world. Let's see how they will capitalize it. "The old west" will have some trouble with their old unproductive habits of transferring payments.

Remember when the idea "mobile as a wallet" popped up more than 10 years ago. It never took off, most probably because the old institutions did not like the idea.

[nike shox]

i dont know if there suitalbe to write something good website i meet here, for i hope every body could have a good shopping experience online.

[air max]

it is not a advertisment,

[Replica watch]

I was reading something else about this on another blog. Interesting. Your position on it is diametrically contradicted to what I read earlier. I am still contemplating over the opposite points of view, but I'm tipped heavily toward yours. And no matter, that's what is so great about modernized democracy and the marketplace of thoughts on-line.

[karemillen]

The new brand of clothes are nothing like the old one. Right now, almost everything is done in different countries and then imported to the United States to be sold to consumers.

[nike air jordan]

Its always a good day to see something about our industry

[prefabrik]

serostatus in addition to the programs aimed at people without HIV/AIDS. This would ensure that everyone regardless ostatus is involved in stopping the continued spread

[Chanel Swimsuit]

http://www.bikinissexy.net/ folks will don't forget you for a lengthy time. As a business owner, you've a great deal of choices to make. You need to make certain that each and every selection

[karen millen dresses]

"Whatever our souls are made of, his and mine are the same" - Emily Bronte

[beats by dre store]

our souls are made of, his and mine are the same" - Emily Bronte

[moncler doudoune]

Very good I will recommended to more friends moncler 2011can effectively help alleviate various symptoms, so many doctors and physical therapists use mbt walking shoes for patients. moncler doudoune All of the in our store are sold at reasonable price. We have strong manufacturing plant to provide products in time. We have perfect logistic system, moncler doudoune homme which guarantees all the orders are delivered to you in good shape ASAP. We have excellent customer service team, moncler doudoune femme which could solve various problems online in 24 hours. It is a trustworthy US mbt shoes shopping store for you.

[pandora]

good article,if you want to know information,you can visit our website http://www.hotpandorajewelry.com/.

[monster beats]

I also found your posts very interesting. In fact after reading, I had to go show it to my

[Monclervest]

thanks very much for sharing! it make us in deep thinking! The way you have “blended” (hehe) it all together makes this look like a solid, whole product, as good as any Pixar short. Probably better. But then again: That’s my opinion. we offer large collection of various styles moncler jackets for your selection! welecome to have a review and choose your favorite one!

[Abercrombie]

Azioni di Abercrombie & Fitch è sceso 1, 15 dollari, a some, a couple of every cento, every chiudere any money 26. 10.Inoltre il Venerdì, JC Penney, il valore-prezzo negozio di reparto, haya detto che il profitto every my partner and i tre mesi che si è concluso a couple of maggio cadde il 79 every cento, any money twenty-five milioni, a 11 centesimi every azione, rispetto ai money 120 milioni, a 54 centesimi every azione, every il periodo di not anno fa.

[شات]

I hear ya, I'd prefer a real human being myself.

[moncler outlet]

Thanks, I'm going to have nightmares tonight.

[ノースフェイス]

羅津、パイオニア、男性は3場所は通年不凍港であり、両方が北朝鮮政府の経済と貿易港によって承認されたままです。

[Sexy Ed Hardy Bikinis]

I was looking for something similar like this. Thanks for this useful information.

[ralph lauren]

Draw, durante raison de boy stéréotype lourde, s'avère être devenu synonyme de «démodé». Saison Ralph lauren draw, après quelques incarnations de los angeles setting ont arraisonné los angeles grande scène, put apporter united nations element setting fraîche! Quel style de tenue de design draw et de los angeles valeur de los angeles tendance des investissements à partager? Ralph lauren, sœurs envie de prendre the "old fashioned" ze débarrasser de chandails encombrants, faciles à porter des vêtements avec the «boom» mindset!