HUB FACT SHEETS, INFOGRAPHICS & SUCCESS STORIES Trade & Investment News Read Our Blog Newsletters

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