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Mobile money subscribers on the rise across the region

Published on August 18, 2015

East Africans are now using mobile money platforms to move cash equivalent to a third of the value of goods and services produced in the region, the latest industry statistics show.

Consumers in Kenya, Uganda, Rwanda and Tanzania last year transacted $45.75 billion through their mobile phones — translating into 32 per cent of their combined gross domestic product — up from $4.86 billion or 3.4 per cent of GDP in 2009.

The annual growth in volumes means that East African consumers are moving an average of $3.8 billion monthly or $125 million per day compared with the $13.3 million a day they transacted five years ago. Read more. Source | The East African