Kenya Mobile Money Market to Grow at 27% CAGR by 2024 | IMARC Group

1. Kenya Mobile Money Market Research Report and Forecast 2024 Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved © 2019 IMARC All Rights Reserved

2. Report DescriptionAbout IMARC Group The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value challenges, and transform their businesses. opportunities, address their most critical IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

3. Report Description and Highlights Report Description Kenya Mobile Money Market Overview: As per the latest report by IMARC Group, titled “Kenya Mobile Money Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Kenya mobile money market size reached US$ 40 Billion in 2018. Sending and receiving money plays a vital role in the daily lives of the Kenyan population. As most of the individuals in the country do not have access to formal or semi- formal banking services, they rely on mobile money services, which are an affordable, effective and reliable means for paying bills, and depositing, withdrawing and transferring money. Mobile money also ensures that the money can be deposited in one location and withdrawn in another. In recent years, there has been a rise in the demand for mobile money in Kenya, owing to the increasing internet penetration and boosting sales of smartphones. Kenya Mobile Money Market Trends Kenya currently represents the second-largest market for mobile money in Africa owing to the increasing utilization of mobile payment services, especially in the agriculture, health, retail and wholesale sectors. Besides this, various businesses and individuals are employing the mobile money platform as a primary account for financial transactions.

4. Report Description and Highlights Report Description 186.5 181.2 120.2125.5130.8136.1141.4146.7152.0157.3 175.9 170.6 160 180 165.3 160.0 160 140 140 120 In Billion US$ in Billion US$ 120 100 100 80 80 60 60 40 40 20 20 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Furthermore, the growing popularity and easy accessibility of mobile loans are also contributing to the market growth. Looking forward, the market value is projected to reach US$ 174 Billion by 2024, expanding at a CAGR of around 27% during the forecast period (2019-2024). Request for a free sample report: https://www.imarcgroup.com/biopreservation- market/requestsample

5. Report Description and Highlights Report Description Apart from this, the launch of the M-Pesa, the premier mobile money application in Kenya offered by Safaricom, has assisted users in withdrawing funds using their smartphones without the requirement of a bank account. The registration and deposition on this platform are free, and the pricing of other transactions is also based on a tiered structure, which enables even the lowest-income users to utilize the system. Moreover, M-Akiba, an initiative undertaken by the Government of Kenya in 2017, is allowing M-PESA users in the country to purchase and sell specific government bonds using their smartphones. Market Segmentation by Technology • • • USSD Mobile Wallet Others Based on the technology, the market has been segregated into unstructured supplementary service data (USSD), mobile wallet and others. For more information, click here: https://www.imarcgroup.com/kenya-mobile-money-market

6. Report Description and Highlights Report Description Market Segmentation by Business Model • • Mobile Led Model Bank Led Model On the basis of the business model, the market has been bifurcated into the mobile and bank-led models. Market Segmentation by Transaction Type • • • • Peer to Peer Bill Payments Airtime Top-ups Others The market has been analyzed on the basis of the transaction type into peer to peer, bill payments, airtime top-ups and others.

7. Report Description and Highlights Report Description Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players. • • • • M-Pesa Equitel Money Mobikash Airtel Money Browse Related Report Uganda Mobile Money Market Report: https://www.imarcgroup.com/uganda-mobile-money-market Tanzania Mobile Money Market Report: https://www.imarcgroup.com/tanzania-mobile-money- market

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10. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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