Recently, Kenyan communications authority revealed that the mobile money segment recorded 730.2 million transaction in the third quarter of 2018, which is worth 2 trillion Kenyan shillings ($19.6 billion), a 19.45% rise on a year-on-year basis. Back in Q3, 2017, the mobile money service recorded 611.3 million transactions valued for about $18.6 million.

The report also showed that what triggered this activity was the penetration rate of mobile money which rose by 2.3% from 97.8 percent at the end of June to reach 100.1% at the end of September.

This growth is related to the investments made by telecom operators to extend their network and improve the quality of their services.

The regulator underlines that the improvement of the mobile money penetration rate, led to a rise of 2.4% in the number of active subscribers from 45.5 million to reach 46.6 million.