Kenya records biggest increase in mobile money transfers in 5 years at 20pc

NAIROBI, Kenya September 11 – The total amount of mobile money transfers recorded in 2020 increased by 20% as more Kenyans resorted to cashless transactions to minimize the spread of the coronavirus disease, according to the Kenya National Bureau of Statistics (KNBS) is the largest increase recorded over the past 5 years.

Money transfers reached Shs 5,200 billion in 2020.

The economic survey, released by Treasury Cabinet Secretary Ukur Yattani on Thursday, said the value of mobile business transactions increased 35.0 percent to Shs 9.4 trillion in the same period. .

“This is in part attributed to preferences for cashless transactions in the wake of COVID-19 and the reduction in mobile money transfer tariffs,” the survey noted.

The availability of data on innovative products, the rise of Internet service providers (ISPs) and digital subscriptions have also strengthened the information and communication technology sector, whose output value increased by 2 , 5% as more Kenyans have adopted digital technologies to enable remote working and minimize interactions.

The sector was among the biggest contributors to the GDP in 2020, with a rate of 4.8%, while the value of its output was 535.5 billion shillings, against a growth of 5.7% recorded in 2019.

During the same period, mobile subscriptions increased 11.6% to 43.7 million, wireless data subscriptions increased 44.4% to 103,598, while telecom operators’ revenues increased. from 283.2 billion Shs to 285.1 billion Shs in 2020.

During the period under review, the number of authorized ISPs increased by 21.2% to reach 366, registering a growth of 9.6% to KSh 40.0 billion in 2020 from KSh 36.5 billion in 2019 .

The total number of digital subscriptions increased by 7.2% compared to an 11.5% drop in 2019.

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In 2020, more Kenyans embraced streaming TV content over Internet Protocol networks, which increased 18.4% to 16,303 subscriptions in 2020, up from 13,765 in 2019

“This was also boosted by Google’s loonie services offered in unconnected areas of Kenya, providing wider signal coverage. Total wired internet subscriptions increased 35.5% to 579,449, while fiber optic increased 49.0% to 400,355 subscriptions in 2020, ”the survey said.

While the investment value of telecom operators decreased by 38.2% to KSh 35.6 billion, the number of employees in telecoms increased slightly from 8,639 in 2019 to 8,728 in 2020 .

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