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42% growth in Kenyan mobile money deposits

The Communications Commission of Kenya reports that mobile money transfer values topped KES 185.4 billion by March this year, 42% up on the KES 176.8 billion recorded during the previous year.

CCK said mobile money  transfer service continued to play a significant role in the country of ensuring seamless transfer of money, mobile payments among other transactions.

Cumulatively, as at 31 March 2012, there were 18.987 million mobile money transfer subscriptions, 9.1% up on the 18.981 million recorded during the previous year.

CCK said the mobile money transfer service continues to create employment opportunities particularly for the unemployed population in the country. At the end of quarter under review, there were 45,861 active mobile money transfer service agents.

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