Kenya’s mobile money market heats up
Three operators are set to enter Kenya’s thriving mobile money market as part of a shake-up in the industry, according to local reports.
The Communications Authority of Kenya (CAK) licensed three MVNOs, headed by Equity Bank’s subsidiary Finserve Africa, as well as Mobile Decisioning’s Zioncell Kenya.
The companies are expected to start delivering services, including mobile money solutions, in the coming months and will use infrastructure from existing MNOs, reportedly hosted by the Airtel network.
Following the success of Safaricom’s M-Pesa service, mobile money has continued to record steady growth in Africa and it is here where the additional operators are expected to focus their investments.
CAK statistics reported that a total of $22 billion was transmitted via mobile money transfer services last year.
In May this year, the GSMA announced that it would be collaborating with a number of operators to launch further mobile money services across Africa and the Middle East.