Mobile money services in Kenya

The revenue from M-Pesa, a mobile money transfer service of Kenya's Safaricom in 2008 is predicted to make up 49 percent of the total company profit. The service is expected to generate $52.4 million and have a profound effect on Kenya's mobile and financial markets in the longer term.

As per words of one analyst 'Kenya is East Africa's most developed mobile market with a mobile penetration rate of 30%, forecast to reach 67.5% in 2012'.

Mobile payment services in the country are delivered on a scale which is the largest not only in the region but in the world as well. Integration of mobile and financial services has a great revenue potential in Africa which is seen from the huge size of customers auditorium using money transfer services introduced during 2007 by the country's two mobile operators.

In early spring 2007 Safaricom launched its M-Pesa mobile payment system having become thus a pioneer in the industry. The system allows customers deposit, transfer and withdraw funds from their mobile accounts. A large flow of revenue to the company took place this year due to more than 14 percent of Safaricom's subscribers who signed up for M-Pesa.