This archive report was first published on 8 June 2020.
Kenya's mobile cash transactions hit a two-year low in April, with the Central Bank of Kenya (CBK) reporting a significant decline in earnings by businesses and workers.
According to CBK statistics, mobile payments fell by Sh56.52 billion to Sh307.99 billion in April, the lowest value since February 2018 when transactions amounted to Sh300.92 billion.
The lockdown enforced to stem the spread of the virus has had a significant impact on small traders, with dusk-to-dawn curfews and reduced operating hours contributing to the decline.
Despite a waiver on fees for mobile money transfers below Sh1,000, the number of mobile money transactions fell to 124.99 million in April from 150.69 million in March, the lowest volume since August 2017 polls.
CBK data shows that the average mobile money deals in the first three months of the year was Sh362.30 billion, with April's value being Sh54.30 billion, or 15 per cent, less than this average.
