Kenyans in diaspora are the biggest senders of mobile to mobile remittances, says WorldRemit

Mar 28, 2017

According to WorldRemit, mobile to mobile remittances accounts for 93 percent of WorldRemit transactions to Kenya

As part of the 10th anniversary of the renowned mobile money platform M-PESA, WorldRemit has unveiled a new data report which places Kenyans as the leading users of digital remittances to mobile accounts. According to the data released by WorldRemit, mobile to mobile remittances accounts for 93 percent of WorldRemit transactions to Kenya. This places Kenyans as quick adopters of technological innovations even when in the diaspora. In his comment, Ismail Ahmed, Founder and CEO at WorldRemit said "Kenya is famed for leading Africa's digital transformation, and today it's Kenyans abroad who are at the forefront of digitizing international money transfers. Most of our Kenyan customers use our mobile app, demonstrating the strong demand for convenience when sending to friends and family. "With half a billion registered accounts worldwide, mobile money continues to transform lives by allowing people to access financial services for the first time. WorldRemit customers now send more than 65,000 transfers to the country every month from the WorldRemit app and website with over 90% going to M-PESA" he added. Mobile money has aided the expansion of WorldRemit in Kenya and its penetration is propelled by low cost of transacting, speed and ease of sending instant remittances via the mobile app or website to a mobile phone in Kenya. With about three million Kenyans in diaspora, mostly residing in North America, Europe and Australia, remittances have continued to play salient roles in strengthening Kenya's economy. According to Kenya's apex bank, inward remittances attained a record value of $161 million last November.