The value of cash handled by mobile money agents during the first quarter ended March dropped by 12.1 percent to Sh2.04 trillion, despite a 38.1 percent increase in the number of transactions, pointing to a tough economy that is forcing more people into low-value commercial and personal deals.
Fresh data from the Kenya National Bureau of Statistics (KNBS) shows that the value dipped from Sh2.32 trillion a year earlier, while the volume of transactions grew from 632.7 million to 873.9 million.
