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Kenyan's mobile transactions up 5 percent

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Staff Writer | September 21, 2018
Kenya's mobile money transactions rose 5 percent in July as citizens intensified use of the service despite government imposing higher levy.
Kenya mobile phone
Africa   Transactions during the month stood at 3.32 billion U.S. dollars
Transactions during the month stood at 3.32 billion U.S. dollars, up from 3.17 billion dollars in June, data from the central bank showed on Friday.

The 3.32 billion dollars is the highest amount Kenyans have ever transacted on mobile money since inception in 2007.

The number of mobile money subscribers in July stood at 42.6 million while agents hit the 200,000 mark.

During the month, the government increased excise duty on mobile money services from 10 percent to 12 percent.

Those sending and withdrawing from 5.1 dollars and to 50 dollars saw their charges rise by 0.01 U.S. cents. While those transacting over 5 dollars to 200 dollars had their transaction costs rise by between 0.02 U.S. cents and 0.03 U.S. cents.

On Thursday, parliament raised the taxes on mobile money among other services further up to 20 percent, an indication that Kenyans would pay more to use the service.