In the first quarter of 2022 the mobile money transactions in Kenya reached a new high of 1.82 trillion Kenyan Shillings. This is according to the Central Bank of Kenya (CBK).
The milestone is being attributed to businesses in the country recovering from the effects of the still ongoing Coronavirus pandemic.
The 1.82 trillion Kenyan Shillings increase is significantly higher than the 1.6 trillion Kenyan Shillings total mobile money transactions that was achieved during the same period in 2021.
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The Central Bank of Kenya (CBK) revealed that in March, citizens in Kenya transacted a total of 687.3 billion Kenyan Shillings on all mobile money platforms, making it the highest ever achieved in a single month.
The majority of the businesses operating in Kenya have in recent times contributed to the mass adoption of e-commerce as well as cashless or mobile money transactions. This has resulted in said services experiencing major boosts especially as a substantial portion of these transactions continue to be carried out via mobile devices.
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The Central Bank of Kenya (CBK) revealed that during the first quarter of 2022 the total number of mobile money users in Kenya hit a 69 million users while the total number of mobile money agents who have been employed to provide said mobile money services and increased from the 299,860 agents which was the case in December of 2021 to 302,837 mobile money agents.
Individuals in the East African nation of Kenya use mobile money services to get loans, raise funds, pay school fees and other bills, carry out government services and banking transactions, as well as other activities.
A recent survey by the Central Bank of Kenya (CBK) made it known that most of the businesses operating in Kenya have begun to experience major growths as a result of the continued adoption of digital services. This is great news considering the negative effects the still ongoing Coronavirus pandemic had on businesses and the economy at large.
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