23
The mobile money revolution in East Africa Godfrey W. Kyama, e-Banking Advisor, Central Bank of Kenya School of Monetary Studies
The mobile money revolution in East Africa
Godfrey W. Kyama, e-Banking Advisor,
Central Bank of Kenya
School of Monetary Studies
East Africa is the cradle of the continent’s mobile-money revolution. The region fills the top spot in a Gallup survey of domestic remittances via mobile phones in Africa.
Population of Kenya is 45 million (2013 estimate) Number of mobile money users = 26.1 million. 59 percent of Kenya’s population - over 917 million mobile money transactions made between Aug 2013 and Aug 2014 - with a value of over $26.4 billion On a daily basis over $74 million is transacted in Kenya using mobile money
KES 2.3 trillion ($26.4 billion) transferred August 2013 – August 2014 70% of the transactions from people who earn less than $200 a month. 2013 –78% mobile penetration – more people with a digital lifestyle! $2.2 billion transferred per month which constitutes 46% of Kenya’s GDP
124,708 mobile money agents 80,000 agents for Safaricom alone, 19 million customers Lipa na M-Pesa: 139,000 merchants ATM cards, Debit and Credit Cards and Point of Sale transactions decreased to 145million in 2014, compared to 174million in 2013 in the same period. $7.1 Billion was transacted using cards in January to June 2014, a decrease from $9.3Billion transacted at the same period in 2013.
Source: Callstreet Research & Analytics Ltd
48.5 million population 4 Mobile money providers 31.8 million registered accounts 11 million active accounts on a 90-day basis 153,369 agents Over 99 million transactions per month valued at over 3 million TZS (US$1.8billion)
Mobile Money operators in Tanzania: • Vodacom: M-Pesa • Airtel: Airtel Money • MIC Ltd: Tigo Pesa • Zantel: Ezy Pesa
Value of mobile transactions: from $598,318 in 2010 to $27.1 million as at February 2014.
The market’s mobile subscriber breakdown is roughly;
35% percent Vodacom 31% Airtel 31% Tigo and 12% Zantel.
The mobile money subscriber split is about:
53% percent Vodacom M-Pesa 18% Tigo Pesa and 13 % Airtel Money with 16 % of subscribers using two or more services.
Uganda – Mobile money service providers: • MTN • Airtel/Warid • Uganda Telecom • Orange • M-Cash and • EzeeMoney
Uganda has 17.6 mobile money subscribers & 64,000 mobile money agents – Population is 35,873,253
June 2014, $65.8 million held on mobile money accts December 2013 – total value of money transacted rose by 59.87% to $7.38 billion (Ush18.65 trillion), up from $4.34 billion (Ush11.66 trillion)
Population: 12 Million 3 mobile money operators: • MTN – MTN mobile money • TIGO – Tigo Cash and • Airtel – Airtel money
By Sept 2014, MTN Mobile money service covered 81% of the population Registered mobile money users 2 million in June 2013 (almost 20% of the total population) 21 million transactions for a total value of $200 million
Armored Tanks – Russia – 15,000
Available Manpower – China – 749,610,775
Air Crafts – United States – 13,683
Nuclear War Heads – Russia – 8,484
Air Craft Carriers – United States – 10
Submarines – North Korea – 78
Budget – United States – $612,500,000,000
Overall ranking – United States
Source: Global Firepower| The Centre for Arms Control and Non Proliferation
USA China
Russia
N. Korea
National eReadiness
Strategic human resource skills – Executive and Operational
Investment in technology infrastructure
Branding is key
Conducive regulatory framework
Robust National Payment Systems
Consumer protection framework
