Mobile phone cash deals hit decade high with Sh1trn rise

A mobile phone user makes an M-Pesa transaction. FILE PHOTO | NMG

Cash transactions through mobile phones jumped by more than Sh1 trillion in the six months to June, a decade-high growth that indicates recovery from Covid-19 economic fallout.

Central Bank of Kenya (CBK) data shows M-Pesa, Airtel Money and Telkom’s T-Cash agents handled Sh3.26 trillion, a 52 percent rise from Sh2.14 trillion in a similar period last year when Kenya was hit hard by the Covid-19 pandemic.

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