Yes I reason, that's why I understand simple Mathematics unlike you who can't divide a simple 4.2 trillion by 100. Unlike you who keep contradicting yourself - you brought here the $42 billion figure yourself when you realized Tz is nowhere close to that you're denying it to be the correct figure. Make google your friend lazyhead.
Evidence that Kenya GDP is $70 bln and while the 2014 rebasing put the country at $ 55 bln? If at Kenya grew at 10% per year then the economy should be $66 bln unfortunately Kenya grew at less than 6% ! Explain to me how did that GDP of $70 bln come about? WB put Kenya's GDP at $ 63bln!
wewe ni mbongo unaepretend kuwa mkenya,pole sana
You haven't given me Tanzania's annual transaction figure yet. I can't keep answering your questions (that are out of topic btw) when you are yet to prove the most important question on the thread. Give me that and I'll give you proof Kenya's GDP is over $70 billion.
Geza you can go around all you want but I yhink its pretty clear, from thise articles, Kenyas average is 2.2$ biilion a month while TZ is 1.6$ a month by the end of 2014.
You can send money to safaricom subscriber using Vodacom line. Fast and secure.
But expensive. Uganda ndo usiseme!
Kafrican, did u check the figures for 2015? Tanzania transfers over $2.2 bln per month!
4.5tri/- transacted in mobile finance services
ROSE ATHUMANI
28 July 2016
Tanzania Communication Regulatory Authority (TCRA) Head of Corporate Communications Mr Innocent Mungy
Tanzania Communication Regulatory Authority (TCRA) Head of Corporate Communications Mr Innocent Mungy
TANZANIA is among few nations in Africa that have made exemplary strides in mobile financial services, currently with 4.5tri/- being transacted using mobiles phones each month.
Briefing journalists yesterday during the fourth Annual Mobile360 Africa in Dar es Salaam yesterday, Tanzania Communication Regulatory Authority (TCRA) Head of Corporate Communications Mr Innocent Mungy said currently mobile finance services covers the whole country.
The three day fourth Annual Mobile360 Africa conference which ends today, seeks to discuss barriers and find solutions that will enable the underserved population access to the services.
Mr Mungy said through mobile money services provided by all telecommunication companies in the country, has been instrumental in bringing financial services closer to the public, especially those living in rural areas and do not have access to banking services.
“A greater number of people are benefitting from the mobile money services, including in purchasing, accessing money in their bank accounts and sending money to loved ones from the comforts of their homes,” he explained.
He said using mobile money services also reduces theft, saves time from having to visit and access one bank physically as well as carrying a lot of paper money. The TCRA head of Corporate Communications said the country is also making positive strides in incorporating Information Communication Technology (ICT) to providing various services such as e-education, e-health, egovernment and e-commerce.
Citing an example he said in the health sector patients can now receive important information including when to attend clinic, reminders to take medicines or the type of medicine to take through their mobile phones without having to physically visit the doctor.
He added that the mobile phone is also used by patients to store important information, “for instance patients with high blood pressure can send their readings to their doctor who can then advice on what medicine to take.”
Due to the major strides the country is making in ICT, Mr Mungy said Tanzania is now leading in the East Africa region and the world for having the cheapest internet costs. He said whereas in Tanzania one can buy GB 40 at 50,000/- in the United Kingdom GB 3 is nearly US 1000 dollars, noting that even in Nairobi, Kenya it is expensive.
“These achievement that Tanzania has recorded is also another reason this meeting is taking place here because as much as we want to learn from them, they also want to learn from us, to understand how we got where we are.”
On his part, Tigo Tanzania General Manager Mr Diego Gutierrez the telecommunication company has been working round the clock to find different ways to bring services closer to all Tanzanian, especially in rural areas.
Mr Gutierrez who said Tigo Tanzania has different plans rolling which makes it easier for consumer access the company’s services as well as use the service to bring positive change in their lives.
The plans according to Mr Gutierrez includes bringing low cost smart phones to rural people who cannot afford to buy one at current costs. Meanwhile Ericsson is looking to partner with governments to use ICT to bring positive industrial transformation including increase effectiveness and efficiency.
Speaking to Daily News yesterday Head of Government and Industry Relations, Mr Shiletsi Makhofane said ICT is one industry that will be a game changer in all industries.
“Today majority of the focus has always been on one to one connect...however the world is moving fast, past that... we are going further and looking at what can we with this ICT in making other industries more efficient,” he explained.
Areas being targeted by Ericson for transformation using ICT include transport, public safety and security, financial inclusion and energy sectors.
The fourth Annual Mobile360 Africa conference brings together more than 500 telecommunication companies and stakeholders from around the world.
4.5tri/- transacted in mobile finance services
In 2015 Kenya total transfer was $ 27 bln as Kafrican testified...considering the years u have been using Mpesa, we will beat u this year!
Siku hizi Kenya na Tz tuna dollar kama denomination yetu? Halafu unafunga mjadala. Great!!
I bet it's a typo but it's funny.
42% of Kenya GDP Transacted on M-pesa and 9 Takeaways From Safaricom Results
By Eric Wainaina -
May 7, 2015
Safaricom announced its FY 2014/15 results today, surpassing expectations by posting a 38% increase in profit after tax to shs. 31 billion. The results were bouyed by growth of its non-voice revenue which we covered widely this morning.
We’ve rounded up 10 takeaways from Safaricom’s full year results.
1. M-pesa is Huge For Safaricom
The M-pesa money transfer service now represents 20% of Safaricom’s total revenue. The service currently has 13 million active monthly users representing nearly 50% of all Safaricom subscribers. Safaricom recently migrated its servers from Germany and is now hosting them in Kenya a move that has led to increased transactions speeds from 10 seconds to 3 seconds. Safaricom is also seeking to diversify the platform with services such as M-shwari in collaboration with Commercial Bank of Africa, that currently has 10 million registered users and 5.8 million active users. Others include the Lipa na M-pesa platform that has 49,413 and 11.6 billion worth of payments on the platform. Other services are M-pesa Surepay targeting government agencies and NGOs as well as the newly launched KCB M-pesa account.
2. Voice is Hurting But SMS is Healthy
Voice is Safaricom’s core business but registered a mere 4% growth in revenue to 87.4 billion. More users are using the internet for communication, which is a global trend. The recent launch of VOIP services on popular instant messaging platform Whatsapp is also likely to affect Voice revenue going forward. Safaricom plans to move the voice data from 2G to LTE in six months with the latter being cheaper to maintain. At the same time SMS continues to stand firm contributing 10% of the company’s revenue.Growth in messaging was as a result of affordable SMS bundle as well as SMS promotions such as ‘Bonyeza Ushinde’.
3. The Box
Safaricom is set to unveil tomorrow its media streaming box called the Big Box. The company will be providing buyers of the Big Box with free internet for the first six months. There is also free YouTube for users for three months. The Big Box will run on Android, will provide internet access via a 4G SIM slot as well as act as a wireless hotspot besides also being a gaming device. Streaming aside, the Big Box decoder will also have local channels. Keep it here for more on the Big Box.
4. Data is Part of the Future
Mobile data registered a 59% growth with monthly data customers increasing to 11.6 Million which represents 50% of Safaricom’s customer base. Interestingly, 4.3 million customers were using 3G enabled phones with 3.4 million using smartphones. Safaricom is already restructuring the model through which it sells its data bundles offering. This involves the introduction of data expiry periods. The model has been successful allover the world, with the internet service providers reaping better incomes from the data packages sold.
5. The Youth Love Safaricom
The Youth seem to love the Safaricom brand with 79% Youth Brand awareness. In addition, Safaricom registers 1 million youthful subscribers annually. Looks like the Safaricom activ8e , The groove tour and the Safaricom tour live parties are beginning to pay off.
6. Bob Collymore is CEO for Another 2 years
The Safaricom Board of Directors also decided to extend the mandate of CEO Bob Collymore for another two years. Nicholas Ng’ang’a, the Chairman of the Board lauded Collymore’s performance at the helm which informed the decision to extend his mandate. Under Collymore’s leadership, several key projects such as the transfer of M-pesa servers, rollout of 4G and content delivery have been initiated with some still ongoing. This may have also informed the decision to retain the CEO for continuity purposes.
7. Network Infrastructure
Safaricom invested 33.7 billion in improvement of the quality of network as well as coverage and capacity. Currently, the network is rolling out 4G with Nairobi and Mombasa covered through 236 sites. A planned expansion will cover 13 towns by the end of the year. Safaricom has 3,382 2G base stations, 1,943 3G base stations and 195 wimax sites. Safaricom hopes to extend its fiber connection to 1,000 buildings as well as improve its fixed data and managed service offerings.
8. 42% of Kenya GDP transacted via M-pesa
In the period, shs. 4.2 Trillion was transacted through the mobile money platform representing 42% of the Kenya’s GDP. GDP is a measure of the value of goods and services an economy produces. This is an interesting figure as partly because GDP does not represent the amount of money that that pays for goods and services. In addition, M-pesa mobile money transactions quote flows both into and out of the mobile money system meaning there might be some double counting. However, according to the Central Bank, mobile money contributes a staggering 66.56% of the total NPS which may make the figure accurate.
9. Safaricom is Bigger Than Burundi, Lesotho and Swaziland’s Economies
Safaricom’s market capitalization as at close of business today stood at Kshs. 703 billion or $7.4 billion. This is bigger than the GDP of several African nations including Burundi, Swaziland and Lesotho. If Safaricom was a country, it would probably rank as among the poorest in Africa if their market capitalization was to act as a representative of their Gross Domestic Product.
10. Loads of Cash Reserves and Largesse in Dividend Payouts
Safaricom currently has Shs. 27.5 billion in cash reserves which represents a 21% increase in free cash. I suppose this will be used for network upgrades, acquisitions and research and development. The company will also payout dividends of Shs. 25.65 billion representing 80% of the company’s net income which is a first in Kenya.
42% of Kenya GDP Transacted on M-pesa and 9 Takeaways From Safaricom Results
MY TAKE
If Kenya's GDP is $63 bln, then Mpesa transactions can never be $42 bln but around $ 26 bln! Ur GDP needs to be $100 bln to have the value of $42.2 bln transaction.
