Ground breaking M-PESA celebrates decade milestone

Forex remittancesFrom MARIA MACHARIA in Nairobi, Kenya
NAIROBI, (CAJ News) – THE Kenyan Diaspora has emerged the biggest sender of digital remittances to mobile accounts as Kenyans maintain the lead in adopting innovative technology.
This is among the findings by WorldRemit to mark the tenth anniversary of ground-breaking mobile money service M-PESA.
Transfers to mobile money accounts now make up 93 percent of WorldRemit transactions to the East African country.
In January 2017, WorldRemit customers transferred more than $140 million annually to Kenya, making WorldRemit one of the largest remittance companies serving the Kenyan Diaspora.
Top remittance-sending countries are the, Australia, Canada, Germany, Nordic countries (Denmark, Finland, Iceland, Norway and Sweden), United Kingdom and United States.
Ismail Ahmed, Founder and Chief Executive Officer at WorldRemit, said the trends confirm Kenya is famed for leading Africa’s digital transformation.
“Today it’s Kenyans abroad who are at the forefront of digitising international money transfers,” Ahmed said.
He said most of WorldRemit Kenyan customers use the mobile app, demonstrating the strong demand for convenience when sending money.
Around three million Kenyans live abroad, with large communities in North America, Europe and Australia.
Remittances play an important role in Kenya’s economy – inward remittances reached a record value of just under $161m in November 2016, according to the Central Bank of Kenya, making it one of the nation’s top earners.
CAJ News

Short URL: http://cajnewsafrica.com/?p=19009

Posted by on Mar 28 2017. Filed under Africa & World, Featured, Finance, Mobile money, National, Regional, Technology. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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