Struggling Airtel Kenya has more than halved the amount
of money transferred under its mobile money platform, latest industry data
Data by the Communication Authority of Kenya shows that the
value of money transacted through Airtel Money declined by 52.79 per cent to
Sh5.84 billion during the third quarter of 2016/17 fiscal year from Sh12.37
billion during the same period last year.
Airtel Kenya, the second largest telco by market share also
reported an 11.25 per cent decline from the previous quarter when transactions
were valued at Sh6.58 billion.
“The volume of transactions on this (mobile money transfer)
platform was recorded at 471.1 million with Sh1.1 trillion moved during the
period,” CA said in the quarterly report.
During the quarter under review, mobile money transactions dropped
significantly by 81.83 per cent to 8.12 million transactions from 44.68 million
transactions during the third quarter last year.
CA data also shows that the firm also registered a 5.97 per
cent decline in the number of mobile subscriptions to post 6.3 million
subscriptions during the January-March period from 6.7 million in the same
period last year.
“This could be attributed to the review of a tariff carried
out by the service provider which led to reduction in new acquisitions and increased
subscriber in activity,” CA said in the report.
Equitel however was the fastest growing mobile money
platform moving money worth Sh271.81 billion during the quarter under review,
Sh209.39 billion or 335.45 per cent more than Sh62.42 billion the same period
The firm’s mobile money subscriptions and transactions rose
13.07 and 118.46 per cent to 1.73 million and 97.61 million respectively during
the review period.
The quarterly report showed that giant telco Safaricom
maintained its lead expanding the value of mobile money under its M-pesa
platform by 16.47 per cent to Sh890.68 billion from Sh764.72 billion in the
same quarter last year.
Safaricom’s mobile money transactions stood at 364.20
million as of March 2017, accounting for 77.30 per cent of the total mobile
money transactions in the country.