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According to the latest report by IMARC Group, titled “Kenya Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the mobile money market size in Kenya has reached 89.2 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$315.8 billion by 2027, growing at a growth rate (CAGR) of 20.46% during the period 2022-2027.

Mobile money refers to an innovative payment service that is conducted within financial regulations and conducted using a mobile device, offering simple person-to-person funds transfers rather than complex banking transactions. It’s a safe, easy, fast and affordable way to make payments. Mobile money can be of different types, such as M-Pesa, equitel inc, mobikash Afrika limited, airtel money, etc. It allows people to receive, store and spend money using a smartphone.

Impact of COVID-19:

We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.

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Mobile Money Market Trends in Kenya:

Growing demand for this mode of payment by major economic sectors including health, retail, agriculture and wholesale is one of the major factors driving the mobile money market in Kenya . Furthermore, the launch of several monetary benefits by the major players such as deposit and withdrawal, remittance, bill payment, etc. further increases the growth of the market. Additionally, the growing popularity of mobile money for peer-to-peer transfers, cash exchange and purchase of goods and services is also catalyzing the market across Kenya. Apart from this, increasing use of smartphones, increasing internet penetration and lack of access to formal banking services are acting as significant growth factors. In addition, various financial services are offered through this platform, including microloans, insurance and hospitalization covers, which are expected to strengthen the mobile money market in Kenya in the coming years.

Competitive landscape with key players:

The competitive landscape of Kenya mobile money market has been studied in the report along with the detailed profiles of key players operating in the market.

Some of these key players include:

• M-Pesa (Vodafone group)
• Equitel Inc.
• MobiKash Afrika Limited
• Airtel Money

Key Market Segmentation:

The report has segmented the mobile money market in Kenya on the basis of technology, business model and type of transaction.

Breakdown by technology:
• Mobile wallets
• Others

Breakdown by Business Model:
• Movable LED model
• Bank-led model

Breakdown by type of transaction:
• Equals
• Bill payments
• Airtime Refills
• Others

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Main highlights of the report:

• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Market trends
• Market drivers and success factors
• Impact of COVID-19
• Value chain analysis
• Complete mapping of the competitive landscape

If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.

Uganda Mobile Money Market Report 2022:

Tanzania Mobile Money Market Forecast 2022-2027:

Ghana Mobile Money Market Report 2022-2027:

About Us:

The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.

IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.

Our offerings include comprehensive market information in the form of research reports, production cost reports, feasibility studies and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our client base, ranging from small and medium-sized businesses to Fortune 1000 companies.

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This press release was published on openPR.