Latest statistics from Communications Commission of Kenya (CCK) show that the number of mobile money transfer subscriptions has grown by 2.73 percent to stand at 19.50 million during the period between April and June 2012 in comparison to 18.98 million recorded in the period between January to March 2012(Previous quarter).

On an annual basis, mobile money transfer subscriptions grew by 12.13 percent to stand at 19.50 million at the end of the FY 2011/12 from 17.3 million recorded at the end of the FY 2010/11.

There has also been notable growth in total deposits handled in the mobile money transfer service. In the period between April and June 2012, the total deposits handled grew by 4.0 percent to stand at 192.73 billion from 185.36 billion recorded in the previous quarter.

Notably, annual total deposits grew by 38.1 percent to stand at 672.30 billion in the FY 2011/12 from 486.84 recorded in the FY 2010/11.

The mobile money transfer service has continued to create employment opportunities across the country with the number of active mobile money transfer service agents increasing by 7.02 over the period between April and June 2012 in comparison to the period between January and March 2012. As of 30 June, there were 49,079 active agents.

This upward trend signifies the importance of mobile money transfer services as an instrument of providing the unmet demand for financial services thus promoting financial inclusion in the country.