Essar Telecom Kenya looking to capitalise on money transfer growth

The Star reports that Essar Telecom Kenya is offering a 200% bonus airtime to subscribers who top up their airtime via the company’s mobile money platform yuCash. The offer is reported to be valid for three months.

Essar Telecom Kenya is pushing a new offering to subscribers in a bid to boost usage on mobile money platform yuCash. (Image source:

The move signals the company’s objective of attracting users to its money transfer services.

yuMobile chief executive Madhur Taneja is quoted as saying the mobile money platform currently has in the region of 1.8 subscribers from its 3.22 million mobile customers.

The report refers to CCK (Communications Commission of Kenya) quarterly statistics which state that there were 21.1 million mobile money transfer subscribers by the end of December 2012.

Management at yuMobile believes mobile money transactions will gain popularity as the benefits of efficiency, convenience and relative safety are realised.

Deposits on mobile money between October and December in 2012 grew by 10.3% to 226 billion – up from 205 billion documented during the previous period writes The Star.

* Image via Shutterstock

Staff Writer