Kenya Mobile Money Infographic

Report

An infographic tracing the growth of Kenya’s M-PESA mobile money system shows that by April 2013 the service had 23 million customers, 74% of Kenya’s adult population, transacting KShs 142 billion a month through a network of over 96,000 agents, equivalent to 31% of Kenyan GDP and a balance equal to 29.3% of the country’s total bank deposits. The timeline traces M-PESA’s path from Safaricom’s initial approach to the Central Bank of Kenya through its 2007 launch and on to an expanding web of linked services, including bill payments, school fee collection, cardless ATM withdrawals, drought insurance for farmers through Kilimo Salama, bank accounts manageable entirely by phone, and international remittances from 45 countries via Western Union, drawing on data from the Central Bank of Kenya, Safaricom, the World Bank and Financial Sector Deepening Kenya’s FinAccess surveys.