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Kenyan Mobile-Money Transactions Jump 60%, Business Daily Says

Feb. 28 (Bloomberg) -- The value of mobile-phone money transactions in Kenya increased to 1.17 trillion shillings ($14.2 billion) in 2011 from 732 billion shillings a year earlier, Business Daily reported.

In December 2011, MPESA, the mobile money-transfer service operated by Safaricom Ltd., was used to transfer 116.6 billion shillings, while closely held Tangaza handled 1.31 billion shillings, the Nairobi-based newspaper said, citing data from the country’s central bank. Airtel Kenya Ltd. moved 420 million shillings, followed by Telkom Kenya Ltd. and Essar Telecom Kenya at 20 million shillings each, it said.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net.

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