Amid rise in digital transactions, pandemic hits ATMs in Kenya

The Covid-19 pandemic has accelerated the use of digital financial channels in Kenya, dealing a blow to automated teller machines (ATM), which have recorded a faster decline in the last eight months, a new data from the Central Bank showed.

migrator

Published:10th Dec, 2020 at 6:44 AM

The east African nation at the end of October had 2,409 ATMs, according to the apex bank, down from 2,459 in January, Xinhua reported.

This is a decline of 50 machines in about 10 months, the bulk of the fall in the second and third quarters, to push the total number to a seven-year low.

And as the number of ATMs falls, mobile money usage has surged during the pandemic period to clock 528.9 billion shillings (about 4.9 billion US dollars) a month, the highest ever.

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Amid rise in digital transactions, pandemic hits ATMs in Kenya

The Covid-19 pandemic has accelerated the use of digital financial channels in Kenya, dealing a blow to automated teller machines (ATM), which have recorded a faster decline in the last eight months, a new data from the Central Bank showed.

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