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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Value of Kenya’s mobile money transactions
hits U.S. $20 billion dollars in  third quarter  

NAIROBI (Xinhua) -- The value of mobile money transactions in Kenya topped 2 trillion Kenyan shillings (about 20 billion U.S. dollars) as mobile penetration hit the 100 percent mark in the third quarter, the industry regulator said on Tuesday.

A report released by the Communications Authority of Kenya (CA) showed that 730.2 million mobile money transactions valued at some 20.1 billion dollars were recorded in the July-September period, up from 611.3 million transactions valued at 18.6 million dollars in the previous quarter.

The report also showed that mobile penetration rose by 2.3 percentage points to 100.1 percent at the end of September from 97.8 percent at the end of June, an increase that has mainly been attributed to the fact that most users own more than one SIM card either from the same or different service providers.

According to the CA, the number of active mobile subscriptions increased to 46.6 million from 45.5 million, marking a 2.4 percent increase.

           

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