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Kenya : Kenyans transact Sh100b daily through Central Bank’s RTGS - The Standard

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Mr Stephen Mwaura, CBK’s Assistant Director National Payments System informed a plenary at the exhibition that up to Sh100 billion is transacted daily through Real Time Gross Settlement (RTGS)-the continuous (real-time) settlement of funds individually on order basis.

The amount transacted through RTGS far outstrips about Sh15 billion that is transacted daily on the M-Pesa platform.

From Kenya : Kenyans transact Sh100b daily through Central Bank’s RTGS - The Standard

This is an astonishing statistic. The retail payment network run by the telco carries 15% of the value of the central bank’s RTGS! When you consider the average transaction sizes (the RTGS carries interbank payments, remember) this means that a very high proportion of the economic activity in the Kenyan economy is going through mobile phones.

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