The transaction value of mobile payments in Kenya reached 1.81 trillion shillings (about 13.26 billion U.S. dollars) in the first quarter of 2023, falling slightly year on year due to rising inflation, the Central Bank of Kenya said Friday.
In the first quarter of 2022, mobile payments in the East African nation were 13.34 billion dollars and the figure grew to the peak level of 14.3 billion dollars in the fourth quarter thanks to the holiday season, the bank said in a report.
Since the beginning of this year, Kenyans have been grappling with fast-rising inflation that hit an all-time high of 9.2 percent in March.
According to the bank, the number of registered mobile payment accounts rose to 74 million at the end of March. Enditem
