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Mobile money in Kenya continues to generate impressive revenue growth, says GlobalData

June 28, 2018 Statistics & Trends No Comments Email Email

While many mobile operators globally are under pressure as people make fewer phone calls and data pricing becomes increasingly competitive, Kenya continues to thrive, according to GlobalData, a leading data and analytics company.

Even though it has been more than a decade since mobile money was introduced in East Africa, for Safaricom, Kenya’s biggest mobile operator, mobile money revenues accounted for 27% of total revenues by the end of 2017, and reached 28% as of May 2018.

Simon Andersson, Technology Analyst at GlobalData says: “Safaricom has continued to develop its digital services by expanding far beyond traditional telecoms territory in order to drive mobile money usage. Late last year the company launched its own e-commerce platform, Masoko, which also features Safaricom’s M-Pesa mobile money service as the main payment method.

“The operator has been keen to establish a foothold in a potentially high-value market segment in this middle-income economy before international giants such as Amazon enter the market.”

Additionally, Safaricom is currently in the trial stages of a social media/chat platform app which, of course, also incorporates the company’s highly successful money transfer service, according to GlobalData.

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