Nairobi, Sept. 3 -- The value of monthly mobile money transactions crossed the Sh400 billion mark for the first time in July, official data shows.
Central Bank of Kenya (CBK) data shows that the transactions that include cash transfers and payments for goods and services amounted to Sh450.98 billion, reflecting a 14.96 percent increase from Sh392.17 billion in June.
The mobile money volumes were rising month-on-month since May, following a sharp dip to Sh308 billion in April when Covid-19 restrictions were at their toughest, including a movement ban into and out of Nairobi, Mombasa and Kwale, restricted social gatherings and a dusk-to-dawn curfew.
Analysts link the record high in the month to the increased volume of trade as the economy ...