Safaricom Maintains its Dominance in Mobile Money with 98.8pct Market Share

Safaricom

Safaricom PLC CEO, Michael Joseph, with Safaricom Chief Customer Officer, Sylvia Mulinge and Safaricom Chief Corporate Security Officer, Nicholas Mulila, as they take a tour of the newly opened Sarit Centre branch, guided by, Beryl Okoth, a Safaricom staff working at the shop.

Safaricom’s M-Pesa recorded the highest market share of 98.8 per cent in mobile money transfer between October-December 2019.

According to the latest Communication Authority data for the review period, the value of person-to-person (P2P) transfer over mobile money platforms hit KSh684.5 billion a  6.47 per cent decline from KSh731.9 billion recorded over the same period last year.

Customer deposits were valued at KSh606.96 billion.

Telkom Kenya’s T-Kash recorded the lowest market share of 0.07 percentage points.

In the wake of the COVID-19 pandemic, mobile network operators have waived fees for all P2P transactions under KSh1,000 for the next 90 days aimed at  reducing the physical exchange of currency 

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e-commerce transactions

The value of e-commerce transactions in the period stood at KSh1.58 trillion with business-to-business transactions accounting for 54.52 per cent valued at KSh859.61 billion.

Between October-December, customers to business transactions were valued at KSh294.01 billion, business to customer KSh377.41 billion while customer to government transactions stood at KSh9.73 billion.