Safaricom customer deposits in the mobile money wallet, M-Pesa, fell by Sh10.6 billion to Sh263.3 billion in six months ended March 2024, signalling more withdrawals to cash and other platforms, including banks in the review period.
The four percent decline was from Sh273.9 billion held in M-Pesa at the end of September last year, even as the value of transactions on the platform hit Sh40.24 trillion.
