Kenyan Mobile Money Hits $8 Billion

We recently discussed the success of Kenya's Mobile Money service,
M-Pesa.<http://www.mobilemoneytransactions.com/2012/10/protection-not-regulation-making-mobile-money-a-reality.html>A
news
story<http://www.africareview.com/Business+++Finance/Kenyans+mobile+money+deposits+up/-/979184/1529990/-/sm3tj2/-/index.html>last
week shared just how successful M-Pesa really is – in the year ended
June 2012, the Kenyans deposited $8 billion into the service. That's a 38%
increase over the previous year, up from $5.8 billion. These numbers are
truly staggering and show the untapped potential of mobile money.

A few other numbers reported by the Communications Commission of Kenya:

   - The number of mobile money agents rose 16% to a total of 49,079
   - The number of subscriptions rose by 12.13% to reach a total of 19.5
   million

The end result is great financial freedom for citizens, and a great example
for countries around the world. We will continue to watch the development
of M-Pesa in the weeks and months ahead.

http://www.mobilemoneytransactions.com/2012/10/kenyan-mobile-money-hits-8-billion-.html