According to data from the Central Bank of Kenya (CBK), Kenyans transacted more than Sh1 trillion through mobile phones in the six months to June, a decade-high growth that indicated recovery from the Coronavirus pandemic.

CBK data shows M-Pesa, Airtel Money and Telkom’s T-Cash agents handled Sh3.26 trillion up 52pc from Sh2.14 trillion recorded in a similar period in 2020 when Kenya was hit hard by the Covid-19 pandemic.

According to CBK, this data reflects the continued economic recovery after the measures that followed the pandemic led to job loss and business closure.

Also Read: How to Fuliza: Application and Rates in 2021

“Indicators for the Kenyan economy point to a relatively strong GDP (gross domestic product) recovery in the first half of 2021, mainly supported by the strong performance of construction, information and communication, education, and real estate sectors,” CBK Governor Patrick Njoroge said last Wednesday.

The International Monetary Fund also projects Kenya economy’s real GDP growth will jump to 7.6 percent this year, up from a 0.1 percent contraction in 2020.

Techspace Africa

You may also like

More in:Business

Leave a Reply