Essential The Africa the Media Doesn't Tell You About
- Thread starter TommyHilltrigga
- Start date
U bacc nikka?What the fukk is Buhari doing?
Red Shield
Global Domination
Red Shield
Global Domination
Kenya mobile money transfer hits Sh2.3 trillion
By Xinhua
Updated Thursday, December 31st 2015 at 10:00 GMT +3
Kenyans transacted Sh2.3 trillion ($23 billion) on mobile money in the period leading to October, a rise of Sh408 billion ($4 billion) from a similar period last year, latest data from the Central Bank of Kenya shows.
The 10-month transactions, which are equal to what the nation’s citizens transacted in the entire 2014, indicate the country is set to break a new record on use of mobile money this year. The country holds the global record on mobile money use, which has made the country to offer lessons to other nations on the use of technology.
Kenyan citizens use mobile money to pay bills, loans, save, transfer money from their bank accounts, pay school fees and public transport vehicles fare. Mobile money is, therefore, at the heart of every transactions Kenyans make, stifling the use of plastic money, though cash is still the king.
During the 10 months, according to the CBK data, the highest transaction was recorded in October, where Sh256 billion ($2.51 billion) was moved via the mobile phone. This was the first time in the history of the technology that such amount of money has been transacted on the phone in the East African nation.
On the other hand, the lowest transaction was recorded in February, where about Sh209 billion ($2.04 billion) was moved.
Kenya mobile money transfer hits Sh2.3 trillion
By Xinhua
Updated Thursday, December 31st 2015 at 10:00 GMT +3
Kenyans transacted Sh2.3 trillion ($23 billion) on mobile money in the period leading to October, a rise of Sh408 billion ($4 billion) from a similar period last year, latest data from the Central Bank of Kenya shows.
The 10-month transactions, which are equal to what the nation’s citizens transacted in the entire 2014, indicate the country is set to break a new record on use of mobile money this year. The country holds the global record on mobile money use, which has made the country to offer lessons to other nations on the use of technology.
Kenyan citizens use mobile money to pay bills, loans, save, transfer money from their bank accounts, pay school fees and public transport vehicles fare. Mobile money is, therefore, at the heart of every transactions Kenyans make, stifling the use of plastic money, though cash is still the king.
During the 10 months, according to the CBK data, the highest transaction was recorded in October, where Sh256 billion ($2.51 billion) was moved via the mobile phone. This was the first time in the history of the technology that such amount of money has been transacted on the phone in the East African nation.
On the other hand, the lowest transaction was recorded in February, where about Sh209 billion ($2.04 billion) was moved.
Kenya mobile money transfer hits Sh2.3 trillion
He refuses to devalue the Naira and has set limits on foreign currency withdrawal effectively giving way to rapid inflation, especially with oil sinking.
The D-List Vet
Being in a recommendation system.
Poitier
can you give me a break down on what countries in Africa i can do some research on for moving to? besides South Africa.
Red Shield
Global Domination
Thought the Naira was getting hit hard anyway right now?
Poitier
Senegal and Ivory Coast.
No worse than any other OPEC country but his reluctance to act is going to make it worse. I commend cutting off corruption but he is going a little too far.