Equitel records 6 per cent growth in market share

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Nairobi, KENYA: Recent statistics by Communications Authority CA has revealed that Equitel commands 20 per cent of the market share in the ever growing mobile money transfer sector in Kenya.

The market share in the preceding quarter stood at 14 per cent whereby it accounted for sh. 139 billion of sh. 957 billion that was transacted.

This is a 6 per cent growth as compared to the preceding quarter.

Recent quarterly data from CA indicates that sh. 1.08 trillion was transacted between July and September 2016, where Equitel hit the sh. 219.6 billion mark in its transactions during this period.

The value of transactions also soared by 59 per cent between July and September from sh.139 billion to sh. 219.6 billion.

CA’s latest quarterly report further shows that Equitel users carried out 63.9 million transactions in the said quarter up from 56.9 million transactions in the preceding quarter.

According to experts, Equitel whose customer base has hit the 2.09 million mark, is showing signs of dominance on the mobile payment market with its EazzyPay platform which accepts merchant payments from all mobile money transfer services.

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