Kenya is arguably the seat of mobile money innovation in Africa. This is where it stands today, courtesy of Equity Bank
- 20M mobile subscribers; 12M (60%) mobile money subscribers since inception in 2004
- No. of Mobile Money payment points countrywide – 71,800
- Volumes per year for Mobile Money – Ugx. 2.28 Trillion (2010)
- No. of Mobile Money transactions per day – 1.2 Million
From the plot above, Kenyans could spend up to 15% on low value transaction fees. Notice that the plot is step plot. That means as you move right, it steps the difference in cost. For a transaction of 90,000, the transaction cost is about 5% whereas for 10,000 it is 14% for Orange Money.