NAIROBI, March 20 (Xinhua) -- Mobile money transactions in Kenya declined in January, pointing to a slowdown in activities after the December festivities.
Transactions fell to 3.2 billion U.S. dollars during the month, down from a historic peak of 3.3 billion dollars in December, according to data released by the Central Bank of Kenya on Tuesday.
Kenyans normally consider January a tough month due to overspending by most people during Christmas and New Year festivities, leaving many broke.
Unlike December when mobile money is used for shopping, buying gifts and sending money back home, Kenyans mainly use the service in January to pay school fees, as they grapple with declined income.
However, even as usage declined, the number of agents increased to 188,029, up from 182,472 in December, according to the central bank.
Subscribers, similarly, rose to 37.8 million in January from 37.4 million at the close of 2017 in December, while monthly transactions fell to 137 million from 140 million.
Kenyans transacted a record 36 billion dollars on mobile phones in 2017, defying jitters arising from two elections held in August and October. The transactions were an increase of 3 billion dollars from 2016.
With Kenya currently experiencing political stability following a truce between President Uhuru Kenyatta and Raila Odinga, his main rival in last years poll, mobile money usage would soar this year, analysts reckoned.
