EXPERTS KENYA Mobile Money Transaction reaches $164 million daily in Kenya 2 months ago Adeleye Awakan Post Views: 207 The Central Bank of Kenya announced that mobile money transactions in Kenya via mobile money reach Sh18 billion daily (about $164 million). In summary, the monthly transactions dropped in June to Sh532.63 billion compared to Sh536.70 in May. The country moved the highest ever rate of Sh605.70 billion in December last year, translating to a daily rate of Sh19.5 billion. According to the report, mobile money payment in Kenya took off in the first half of this year as users continued to embrace the cashless system as part of a measure to contain the spread of Cold-19. The data by the Central Bank of Kenya shows the growth of Sh190 billion in mobile money payments in the period between Januarys to June this year compared to a similar period last year. According to the monthly transaction data by the apex bank, Kenya’s mobile money transactions jumped to Sh3.26 trillion during the period under review compared to Sh3.06 trillion between July to December last year. The amount of mobile money moved in the first six months of the year was a 52 per cent growth compared to the similar period last year when they transacted only Sh2.1 trillion. Even so, the monthly transaction dropped in June to Sh532.63 billion compared to Sh536.70 in May. This means the country recorded a daily mobile money transition worth Sh17.8 billion. The government moved the highest ever rate of mobile money transaction of Sh605.70 billion in December last year, translating to a daily rate of Sh19.5 billion. Data from the CBK shows that in total, Kenyans moved $50 billion (Sh5.4 trillion) through their phones in 2020, driven by relief measures on mobile phone payments to help curb the spread of Covid-19. The value of mobile money transactions in Kenya in 2020 marked a 20 per cent rise from $40 billion (Sh4.3 trillion) in the previous year. This means that Kenyans transacted an average of $140 million on mobile phones daily between January and December 2020. Nonetheless, the massive success of mobile money adoption in Kenya is a testament to its impact and value to businesses such as the gambling and betting industry. Mobile phones are the first resort for bettors to place a bet on their favourite bookmaker’s platforms. It is pretty evident in the data that most transaction was on mobile phones and a testament to the vast penetration of mobile online betting and gambling in Kenya. Similar to e-commerce, logistics, healthcare, and other sectors significantly benefited due to its accessibility, flexibility, and comfort derived using the services and capturing unserved and underserved communities has made it a huge success in Kenya. The mobile money bandwagon continues to gather pace in Africa, which has become the first resort for the average African to complete financial transactions without needing a bank account. As a result of the massive mobile money adoption that has aided many sectors, the vast adoption has been the bedrock of success for igaming and betting industry growth in Africa, particularly in the East Africa region. Adeleye AwakanAuthor E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. Facebook Twitter LinkedIn Email Print Tags: betting, Kenya, mobile money Continue Reading Previous Gambling addiction in GhanaNext Online Casino security in Kenya – is enough being done to protect players? More Stories BETTING KENYA Gambling alive and well amid Covid-19 ravages 9 hours ago Samuel HOT NEWS KENYA ONLINE $1bn Digital Transformation Project Key to Africa’s Online Gaming Industry 3 days ago Adeleye Awakan BETTING KENYA SportPesa add new games with an Incentive deal 5 days ago Samuel EXPERTS KENYA Flutterwave Partners with Airtel Money 6 days ago Adeleye Awakan EXPERTS HISTORY History gambling in Asia 1 week ago Samuel EXPERTS NAMIBIA Namibia further relaxes COVID-19 restrictions 1 week ago Samuel EXPERTS HOT NEWS Bolstering Africa’s Gambling Industry through Technology 1 week ago Iwo Bulski BETTING KENYA FKF end Odibets Sponsorship Deal 1 week ago Adeleye Awakan EXPERTS HOT NEWS SOUTH AFRICA Why Mobile is the future of banking in Africa 1 week ago Iwo Bulski BETTING KENYA Odibets Supports Amputee Football Federation 2 weeks ago Adeleye Awakan CASINO EXPERTS How to cope with gambling loses and start winning. 2 weeks ago Fahad Luyzburg EXPERTS HOT NEWS Vat on sport betting in Nigeria & Ghana – what investors & biz executives must know 2 weeks ago Adeleye Awakan Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.