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Key enablers to E-commerce in Kenya 2021.04.29
E-commerce sales globally amounted to $4.28 trillion in 2020. This was mainly attributed to lockdowns, social distancing, and the push to work from home, which meant no in-store purchases. Locally, e-commerce has proliferated over the last couple of years, with multiple players entering the industry, thereby significantly disrupting the retail sector. Today, Huawei held the 6
th edition of the Unitech Talk themed “The role of e-commerce in trading” The talk brought together experts from the private sector as well as the government where they highlighted the impact and opportunities e-commerce presents.
Kenya has made significant strides with regards to digitization and creating an enabling environment for businesses and trade to flourish, more so within the digital space. Additionally, the country has one of the most vibrant e-commerce ecosystems within the continent, hence showcasing significant growth potential within
Africa quick to take to digital currencies Kenya, SA and Nigeria are among the top 10 crypto-adopting nations in the world 21 April 2021 - 18:10 Catherine Tinavapi Picture: 123RF/DIMARIK16
Economies in sub-Saharan Africa are developing digital financial services. In the larger markets, regulators have taken policy and regulatory measures to support financial institutions’ digital transformation.
While emphasising the importance of robust cybersecurity and consumer protection measures, the global pandemic has generated a strong appreciation for the digital economy. With it comes the expectation that the digital economy will bring growth. Of the emerging and new technological developments, there are a few we believe are most likely to bring growth to regional capital markets.
Value of card payments down Sh6.4 billion
Monday February 08 2021
By ELIZABETH KIVUVA
Summary
The value of payments made through cards last year dropped for the first time in six years amidst the lockdown measures and continued preference for mobile money services.
Central Bank of Kenya (CBK) data shows the value of payments through point of sale (POS) machines dropped by 3.8 percent in 2020 to Sh157.72 billion from Sh164.09 billion in 2019.
This drop was a reverse from the 33.3 percent and 22.12 percent growth recorded in 2019 and 2018 respectively.
The value of payments made through cards last year dropped for the first time in six years amidst the lockdown measures and continued preference for mobile money services.
Banks Lose Ksh1.2B as Kenyans Embrace New Platform
20 January 2021 - 4:28 pm
Central Bank of Kenya Governor Patrick Njoroge during a press conference in Nairobi on May 28, 2020.
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The Kenyan banking industry lost over Ksh1.2 billion of potential card payment revenue in 9 months (March-November 2020) to mobile money platforms, according to a press release from the Central Bank of Kenya (CBK).
The report draft titled Mobile money transactions volumes and values have shown the largest growth since the inception of this payment instrument, Initially emerging as a means of sending money between individuals, merchant payments were later enabled in 2013. Since then, the total volume and value of payments have increased rapidly, reads an excerpt from the report.