Kenya overtaken by Tanzania in mobile money transfer

[NairobiWalker]

In 2015 Kenya total transfer was $ 27 bln as Kafrican testified...considering the years u have been using Mpesa, we will beat u this year!

For 2014,

Kenya’s mobile money transfers up 25pc to Sh2,400bn

A Safaricom agent transacts at an M-Pesa outlet. US-based researchers have ranked Kenya among Africa’s most prepared countries for digital investments. PHOTO | FILE

In Summary

• Growth in mobile money transactions is expected to rise following the roll out of cashless payments in the public transport sector.
• Currently, Safaricom commands the largest share in the mobile money market.

The value of funds transacted through mobile phones in Kenya stood at Sh2.4 trillion in 2014 following increased uptake by consumers and aggressive marketing by service providers.

That is more money than is currently held as deposits by all the country's banks, mortgage firms and micro-financiers combined.

According to the latest data released by the Central Bank of Kenya (CBK), transactions carried out through mobile phones rose by 24.7 per cent to Sh2.37 trillion in 2014 compared to Sh1.9 trillion that was transacted through the same channel in 2013.

Monthly transactions rose to its highest level in December last year to Sh225.5 billion translating into a daily rate of Sh7.3 billion.

Analysts in the sector have attributed the growth to increased uptake of the service by merchants and individuals due to its convenience, cost-effectiveness and security as opposed to use of cash or other means to in making payments or transferring money.

Increased competition in the market as well as aggressive marketing of the service has seen it grow to historical levels, surpassing Kenya’s annual budget.

Mobile money transactions is expected to rise following the roll out of cashless payments in the public transport sector and public.

Mobile money was introduced in Kenya in early 2007. A total of Sh8.4 trillion has since been transacted through the service. The service also boasts of 123,703 mobile money transfer agents.

Currently, Safaricom commands the largest share in the mobile money market.

Other players are Orange, Airtel, MobiKash, Tangaza Pesa and Equity Bank.

Kenya’s mobile money transfers up 25pc to Sh2,400bn

I am happy you've gone back to the we will, we shall where you belong since time immemorial. Now, can you please accept your mistake and close this misleading thread as we await for your we will like we have been doing for the past 7 years?


nomasana, sam999, NairobiWalker, hbuyosh, msemakweli, simplemind, Kimweri, Bulldog, MK254, Kafrican, Ngongo, Ab_Titchaz, mtanganyika mpya, JokaKuu, Ngongo, Askari Kanzu, Dhuks, Yule-Msee, waltham, Mzee, mombasite gabriel, Juakali1980, Boda254, mwaswast, MwendaOmo, Iconoclastes, oneflash, Kambalanick, 1 Africa, saadeque, burukenge, nyangau mkenya, Teen-Upperhill Nairobi, kadoda11

 

[Geza Ulole]

I am happy you've gone back to the we will, we shall where you belong since time immemorial. Now, can you please accept your mistake and close this misleading thread as we await for your we will like we have been doing for the past 7 years?


nomasana, sam999, NairobiWalker, hbuyosh, msemakweli, simplemind, Kimweri, Bulldog, MK254, Kafrican, Ngongo, Ab_Titchaz, mtanganyika mpya, JokaKuu, Ngongo, Askari Kanzu, Dhuks, Yule-Msee, waltham, Mzee, mombasite gabriel, Juakali1980, Boda254, mwaswast, MwendaOmo, Iconoclastes, oneflash, Kambalanick, 1 Africa, saadeque, burukenge, nyangau mkenya, Teen-Upperhill Nairobi, kadoda11

Will not be closed since 5 months are not that many to prove to you that $ 26 bln will be surprassed!

 

[NairobiWalker]

Will not be closed since 5 months are not that many to prove to you that $ 26 bln will be surprassed!

Surpassing $26 billion is merely surpussing half of Kenya's projected transaction in 2016. You'll still have another $26 billion to cover before you reach us (and by the time you cover that we'll be talking in terms of $100 billion). You have a long way to go my friend.

 

[Geza Ulole]

Surpassing $26 billion is merely surpussing half of Kenya's projected transaction in 2016. You'll still have another $26 billion to cover before you reach us (and by the time you cover that we'll be talking in terms of $100 billion). You have a long way to go my friend.

idiot stop desperation..the difference is less that $1 bln and pray that u won't have disruptions in your 2017 election! But as we know u will fight each other and even if u don't Tanzania will still surpassing ur transaction!

 

[NairobiWalker]

idiot stop desperation..the difference is less that $1 bln and pray that u won't have disruptions in your 2017 election! But as we know u will fight each other and even if u don't Tanzania will still surpassing ur transaction!

So KES 4.2 Trillion is now equal to $27 billion? Lol, when I had started thinking you had learnt some Math. You disappoint me.

 

[Geza Ulole]

So KES 4.2 Trillion is now equal to $27 billion? Lol, when I had started thinking you had learnt some Math. You disappoint me.

I asked u to show me how did that $42 bln come about as Safaricome CEO said 42.2 of Kenyan GDP that translate to $27 bln! Read here again! U can't be having hunger and yet a GDP of $100 bln that has never happened in this World! I call that day dreaming!

 

[Muria]

I guess you all used so many words to say this....

Yearly value of mobile money transactions. Source: GSMA, data from Bank of Tanzania, Central Bank of Kenya*

Fact is, for now we only have 2013 as the compared year. On this evidence it is not true that Tanzania has overtaken Kenya in mobile money transfer. The heading of this thread should change to "Tanzania has overtaken Kenya in Mobile money transfer transactions" because that is a fact. Kenya's value of transfers might still be higher, currently we dont know, though individual data from the companies suggests that total transaction value in Kenya is still higher than in Tanzania.

idiot stop desperation..the difference is less that $1 bln and pray that u won't have disruptions in your 2017 election! But as we know u will fight each other and even if u don't Tanzania will still surpassing ur transaction!

Geza Ulole, unfortunately its nerver that easy, if it was that straight forward then the graph up there would tell a very different story.

Lastly mobile money is more disruptive in markets where financial inclusion is weak. Therefore it makes more sense that Tanzania is now catching up with Kenya and will eventually overtake it because fewer Tanzanians are banked/own bank accounts as compared to their Kenyan counterparts so mobile wallets act like their banks. Tanzania also launched mobile money later so its mobile money market hasnt plateaued yet, this will eventually happen.

 

[Muria]

do u understand this statement? Ama lugha ya Queen ilikushinda? hizi ni zile zilizokuwa deposited in banks from mobile money transfer bado zile zilizokuwa transferred from one mobile fone to another! Soma tena kijana na uelewe...!

BOT’s Director of National Payment Systems Bernard Dadi says that the number of registered active mobile payment services users for mobile phone companies who facilitated such financial transaction reached 14.2 million out of 38.8 million registered accounts.

Wrong Geza, what that means is, it is the value of money held in banks/financial institutions on behalf of the mobile agents/mobile companies, think m-pesa/airtel money agent's float. He keeps his/her money with a bank at the end of the day.
It does not mean money that you and I remit to our bank accounts.

 

[Geza Ulole]

I guess you all used so many words to say this....

Yearly value of mobile money transactions. Source: GSMA, data from Bank of Tanzania, Central Bank of Kenya*

Fact is, for now we only have 2013 as the compared year. On this evidence it is not true that Tanzania has overtaken Kenya in mobile money transfer. The heading of this thread should change to "Tanzania has overtaken Kenya in Mobile money transfer transactions" because that is a fact. Kenya's value of transfers might still be higher, currently we dont know, though individual data from the companies suggests that total transaction value in Kenya is still higher than in Tanzania.


Geza Ulole, unfortunately its nerver that easy, if it was that straight forward then the graph up there would tell a very different story.

Lastly mobile money is more disruptive in markets where financial inclusion is weak. Therefore it makes more sense that Tanzania is now catching up with Kenya and will eventually overtake it because fewer Tanzanians are banked/own bank accounts as compared to their Kenyan counterparts so mobile wallets act like their banks. Tanzania also launched mobile money later so its mobile money market hasnt plateaued yet, this will eventually happen.

Kenya transaction 2015 are $27 bln see here while Tanzania transaction are over $26 bln see here (if that amount is multiplied by 12)

 

[Muria]

Kenya transaction 2015 are $27 bln see here while Tanzania transaction are over $26 bln see here (if that amount is multiplied by 12)

I get what you are trying to achieve but see if you have to "multiply" by 12 then that's not an objective comparison because you are you are making a big assumption that Tanzania's transactions are evenly distributed throughout the year.

PS: the monthly value for 6 of the 12 months might be more... Then what do we do??

 

[Geza Ulole]

I get what you are trying to achieve but see if you have to "multiply" by 12 then that's not an objective comparison because you are you are making a big assumption that Tanzania's transactions are evenly distributed throughout the year.

PS: the monthly value for 6 of the 12 months might be more... Then what do we do??

You have to assume when a big company says $2.1 bln per month means an average! It can be on December over $3 bln whi´le in January less than $ 2 bln! I know it pains u people knowing u r not all what thing of!

 

[Muria]

You have to assume when a big company says $2.1 bln per month means an average! It can be on December over $3 bln whi´le in January less than $ 2 bln! I know it pains u people knowing u r not all what thing of!

Really? OK, I guess lets use that then.

 

[GreenCity]

do u understand this statement? Ama lugha ya Queen ilikushinda? hizi ni zile zilizokuwa deposited in banks from mobile money transfer bado zile zilizokuwa transferred from one mobile fone to another! Soma tena kijana na uelewe...!

BOT’s Director of National Payment Systems Bernard Dadi says that the number of registered active mobile payment services users for mobile phone companies who facilitated such financial transaction reached 14.2 million out of 38.8 million registered accounts.

BOT inatumikaje kushuhudia uwezo wa kifedha wa Kenya, Mkuu?

 

[Geza Ulole]

Really? OK, I guess lets use that then.

when someone says i get 200 per month! What does that mean to u in business? an average or lowest value per month!

 

[Muria]

when someone says i get 200 per month! What does that mean to u in business? an average or lowest value per month!

Its fine Geza Ulole, like I said i'm convinced. I get your point. Lets average the number. 🙂

 

[NairobiWalker]

I asked u to show me how did that $42 bln come about as Safaricome CEO said 42.2 of Kenyan GDP that translate to $27 bln! Read here again! U can't be having hunger and yet a GDP of $100 bln that has never happened in this World! I call that day dreaming!

The same Safaricom CEO said the actual figure is $42 billion didn't he? We baki hapo na hiyo $5 billion per year yenu. I am trying to get you understand Mathematics but it's proving a mammoth of task. I really pity your Maths teacher.

 

[NairobiWalker]

Kenya transaction 2015 are $27 bln see here while Tanzania transaction are over $26 bln see here (if that amount is multiplied by 12)

The article you posted says Kenya transacted KES 4.2 Trillion per year for Kenya (and remember that was back in 2014). Yaani hivi wewe ulisoma hesabu kweli? Hivi KES 4.2 trillion ni sawa na $27 billion? Wacha kunichekesha baba.

......and I ask you for the last time, are you aware of something we call GDP PPP? Please check out Kenya's GDP PPP for 2014 and come back to me. It is really hard arguing with these brothers of yours hydrogen

 

[NairobiWalker]

Kenya transaction 2015 are $27 bln see here while Tanzania transaction are over $26 bln see here (if that amount is multiplied by 12)

FYI $42 billion was in 2014. In 2015 the figure is $52.7 billion. In 2016 it will be well over $60 billion. Brazza you still have a long way to go. Check out the writings write from the real sources themselves. You with your $24.7 billion should be struggling to hit a half of what Kenya transacts before you dream of beating us. Check the link below. (and remember that's MPESA alone. Imagine what happens when we add airtel money and YU)

Safaricom of Kenya Talking to Banks to Grow Mobile Money

 

[NairobiWalker]

MPESA HITS 5.29 trillion shillings in transactions ($5.29 billion)

Safaricom Ltd., Kenya’s largest company by market value, is in talks with 19 banks in the East African nation to increase users of its mobile-money transfer platform, Chief Executive Officer Bob Collymore said after the company posted higher annual profits.

Safaricom’s M-Pesa product -- which offers services including money transfers, loans, bettingand bill payments -- had transactions worth 5.29 trillion shillings ($52.6 billion) in the year through March, equivalent to 85 percent of the total national economic output.

“Nineteen banks are now doing real-time payments,” Collymore said in an interview in the capital, Nairobi. Previously, merchants had to wait two days before payments reflected in their accounts.


The banks were also keen to incorporate Safaricom’s mobile savings and loans product, similar to the one the telecom company has with two lenders; Commercial Bank of Africa and KCB Group Ltd., Collymore said. The company that’s 40 percent owned by Newbury, England-based Vodafone Group, made 41.5 billion shillings from M-Pesa, about a fifth of Safaricom’s overall revenue.

Beats Expectations
While the loan and deposit accounts product had recorded a good performance, it still represents less than 1 percent of Safaricom’s total revenue, according to Binta Cisse Drave, an analyst at Exotix Partners LLP. The service allows users to have mobile-phone bank accounts from which they can borrow loans or earn interest on savings.



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The Nairobi-based company’s net income jumped 19 percent to 38 billion shillings in the year through end March, compared with the 36.3 billion shillings median estimate of nine analysts surveyed by Bloomberg. It warned that the growth in earnings before interest, taxes, depreciation and amortization may slow down to a range between 89 billion shillings and 92 billion shillings in case the shilling depreciates.


The shilling declined 13.2 percent against the dollar last year, though it’s gained ground this year, rising 1.5 percent.


“We are always planning on worst case scenario just in case there is a currency slide, but so far it’s gone positive,” Chief Finance Officer John Tombleson said in an interview.

Safaricom plans capital expenditure of as much as 33 billion shillings on data network upgrades, he said. The board proposed a dividend payout of 0.76 shillings per share, up 19 percent from a year earlier.

Safaricom of Kenya Talking to Banks to Grow Mobile Money

 

[Geza Ulole]

FYI $42 billion was in 2014. In 2015 the figure is $52.7 billion. In 2016 it will be well over $60 billion. Brazza you still have a long way to go. Check out the writings write from the real sources themselves. You with your $24.7 billion should be struggling to hit a half of what Kenya transacts before you dream of beating us. Check the link below. (and remember that's MPESA alone. Imagine what happens when we add airtel money and YU)

Safaricom of Kenya Talking to Banks to Grow Mobile Money

42.2% of a $ 60 bln economy can not be $42 bln! usilazimishe mambo kwa umbumbu wa media zenu! tunaongelea sending money from one point to another! hizo product nyingine za betting si suala linalojadiliwa hapa! una akili ndoto sana mzee!