Kenyans transact Ksh.1.8T on mobile money in three months
Kenyans transacted Ksh.1.8 trillion through mobile money platforms between January and March 2018, Communications Authority of Kenya has revealed.
Safaricom emerged top, with its subscribers transacting Ksh.1.48 trillion.
Equitel Money came in second with its subscribers transacting Ksh.389 billion.
On its part, Airtel Money posted Ksh.1.88 billion in mobile money transactions.
Telcom Kenya’s T-Kash, the latest entrant into the mobile money market, transacted Ksh.814 million.
Reports indicate that more Kenyans have acquired smart phones and home internet connections.
This resulted in the growth of data and internet subscriptions by 8.2 percent to stand at a total of 36.1 million subscribers.
Despite a 4.4 percent reduction of its market share, Safaricom remained the leader in the sector with 68.4 percent of the market share.
However, in the fixed subscription category, Safaricom came second with 19.5 percent market share, despite a growth of 2.8 percent.
Wananchi, Zuku’s parent company, continued to lead the fixed data/internet market with a 34.1 percent hold.
Mawingu Networks limited came in third with a market share of 18.3 percent.
On mobile data, Airtel gained 4.6 percentage points to post a market share of 23.1 percent.
Telkom Kenya recorded a decline of 0.2 percent, a 7.6 percent market share.
The CAK report also noted that Safaricom suffered a marginal drop in its market share to 67 percent with 29.5 million subscribers.
The drop in numbers was recorded during the third quarter of 2017/18. On its part, Airtel posted a growth of 18.2 percent in mobile subscriptions.
It’s 8.7 million customers grew its market share to stand at 19.7 percent.
Telkom Kenya on the other hand registered a decline of 1.4 percent in total mobile subscriptions to 3.8 million subscriptions.
This earned them an 8.6 percent market share down from 9 percent.
During this period, the number of active mobile money subscriptions declined by 3 percent to 29.1 million.
Despite the decline, Kenyans still transacted Ksh.100 billion more than the previous period.