Mobile money payments hit seven months high on accounts growth

The number of subscribers on mobile money platforms has rebounded.

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Mobile money payments grew by 6.3 percent in July with expectations of the wider growth in the coming months after the Central Bank of Kenya (CBK) approved higher transaction limits.

The CBK data shows mobile payments hit Sh684.64 billion during the month, up from Sh643.76 billion in June. It was the highest value of monthly mobile transactions since December when it was Sh708.06 billion.

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