Mobile money subscriptions have significantly dropped in the last three months.
According to a report by the Communications Authority of Kenya (CA), the number of subscriptions for either M Pesa, Airtel Money or T-Kash is 38,432,728.
This is from January to March 2023.
In the last quarter, from October to December 2022, the number was 38,645,654.
This is a difference of 0.6 per cent.
The third quarter sector statistics report further shows that the number of registered mobile money agents has, however, increased.
In the last quarter between October and December 2022, the number of agents was 318,607 while in the January- March period, the number rose to 331,065. This marked a 3.9 per cent increase.
"The decline in the subscriptions is attributed to reduced activities in mobile money services during the quarter under review," CA said.
CA also reported that the number of Mobile (SIM) Subscriptions increased by 0.5 percentage.
In the last quarter, there were 65,737,164 subscriptions compared to the recent 66,053,649.
The Machine-to-Machine (M2M) Subscriptions increased from 1,510,236 to 1,538,968 marking a 1.9 increase.
The aforementioned data was provided by licensees in the Information and Communications Technology sector as per their license conditions and obligations.
