Telcos set a new record on facilitating money transactions where users transferred Sh368 billion mainly for payment of school fees, retail purchases and sending money across the country last January.
Statistics released by the Central Bank of Kenya (CBK) show this was 14.2 percent higher than the Sh322 billion recorded in January, 2018 when Kenya was returning to normalcy after a prolonged 2017 electioneering period. The growth was also powered by a seven-percent rise in paypoint agents from 188,029 registered in January, 2018 to 201,336 paypoint agents under the franchising models which are strewn across the country.
