Mpesa international money transfer hits KES 131.1billion

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Mpesa international money transfer hits KES 131.1billion in the year ended March 2016 as per data from CBK.

Safaricom launched MPesa services in Uganda, Tanzania in February 2015, there after Rwanda three months later after getting a cash remittance operating licence from the CBK in 2014.

Data from the CBK show that Kenyans living abroad transferred KES 86.1 billion in the six months to June. North America, mainly the US and Canada, remains the top source of transfers to Kenya, taking 49.3 per cent of total diaspora cash. The MPesa diaspora service was previously limited to receiving cash.

Safaricom Mpesa has partnered with several international money transfer firms like Western Union, Money Gram, BICS, Vodacom and MTN to enable cross border money transfers.

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