NAIROBI, May 23 -- Kenya's mobile money use hit a new high of 1.82 trillion shillings (about 15.6 billion U.S. dollars) in the first quarter of 2021 as businesses fully recover from the effects of the COVID-19 pandemic, according to the latest data released by the central bank.

The usage is an increase from 14.2 billion dollars during a similar period in 2021. Citizens transacted the highest amount ever in a month (5.9 billion dollars) on the platform in March, the apex bank noted.

Most businesses in the East African nation, including public transport vehicles, have increasingly adopted cashless transactions and e-commerce, giving a huge boost to the service.

According to the apex bank, during the quarter, the number of registered mobile money users stood at 69 million as the number of agents employed to offer the service rose to 302,837, up from 299,860 in December 2021.

Kenyans use mobile money to transact for banking and government services, access loans, pay bills and school fees as well as raise fund, among others.

According to a recent survey by the apex bank, a majority of Kenyan businesses have also fast-recovered from the effects of the COVID-19 pandemic due to the increased adoption of digital services.

  - Xinhua