Why Kenyans are using mobile money more but sending less
- Mobile money transaction value in Kenya fell by 19.6% from KES 790.8 billion to KES 636.2 billion over the past year.
- Active mobile money agents increased from 320,182 to 394,853 during the same period.
- Subscriptions to mobile money services rose from 77.3 million to 84.6 million.
The decline in mobile money transaction values in Kenya suggests a critical need for stakeholders to reassess their strategies in light of changing consumer behavior and economic pressures. It may be beneficial for mobile money providers to innovate their offerings and improve user engagement to adapt to the evolving financial landscape.
