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Kenya, Ghana set global pace in adoption of mobile payment

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Although figures for mobile transactions are strong in Africa overall, they are not consistent across the continent. FILE PHOTO | NMG

By  FAUSTINE NGILA

A new research reveals that Kenya and Ghana have the second and third highest mobile payment usage in the world after China, highlighting Africa's potential in modern finance.

The report, Five Strategies for Mobile-Payment Banking in Africa, by American research firm Boston Consulting Group (BCG) estimates that the total value of global mobile financial services transactions in 2020 is between Sh1.6 quadrillion and Sh2.1 quadrillion yearly.

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Note: The results are not exact but very close to the actual.

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