Despite the current economic slowdown, the value of mobile money transactions increased marginally in the first half of 2020 compared to the same period in 2019.
A report by the Kenya National Bureau of Statistics shows that mobile money transactions in the first six months of 2020 increased to KSh 2.144 trillion from KSh 2.136 trillion recorded in the same period in 2019.
However, the total number of mobile money transactions in the six months decreased to 853 million transactions from 918 million transactions in 2019.
The average monthly mobile money transfers in the first half of 2020 were 142 million compared to 153 million in the same period in 2019.
In March this year, the Central Bank of Kenya introduced relief measures meant to increase the use of mobile money instead of cash in daily transactions.
However, based on the mobile money transactions data in the KNBS report, it is evident that the relief measures have not resulted in increased use of mobile money services.