Cash deposits were the most frequent banking transaction undertaken through bank agents in Kenya as of 2022. They equaled over 74 million, while over 43 million cash withdrawals were conducted in the same period. Overall, bank agents operated over 158 million banking transactions, worth around 12.8 billion U.S. dollars. The banking agency model was rolled out in 2010 by the Central Bank of Kenya, allowing commercial banks to contract third parties to offer financial products and services on their behalf. Traditional banks could, therefore, extend their network without the need of increasing the number of branches.
Number of transactions undertaken through agency banking in Kenya as of 2022, by type
(in 1,000s)
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Central Bank of Kenya. (May 15, 2023). Number of transactions undertaken through agency banking in Kenya as of 2022, by type (in 1,000s) [Graph]. In Statista. Retrieved November 22, 2024, from https://www.statista.com/statistics/1232344/number-of-agency-banking-transactions-in-kenya-by-type/
Central Bank of Kenya. "Number of transactions undertaken through agency banking in Kenya as of 2022, by type (in 1,000s)." Chart. May 15, 2023. Statista. Accessed November 22, 2024. https://www.statista.com/statistics/1232344/number-of-agency-banking-transactions-in-kenya-by-type/
Central Bank of Kenya. (2023). Number of transactions undertaken through agency banking in Kenya as of 2022, by type (in 1,000s). Statista. Statista Inc.. Accessed: November 22, 2024. https://www.statista.com/statistics/1232344/number-of-agency-banking-transactions-in-kenya-by-type/
Central Bank of Kenya. "Number of Transactions Undertaken through Agency Banking in Kenya as of 2022, by Type (in 1,000s)." Statista, Statista Inc., 15 May 2023, https://www.statista.com/statistics/1232344/number-of-agency-banking-transactions-in-kenya-by-type/
Central Bank of Kenya, Number of transactions undertaken through agency banking in Kenya as of 2022, by type (in 1,000s) Statista, https://www.statista.com/statistics/1232344/number-of-agency-banking-transactions-in-kenya-by-type/ (last visited November 22, 2024)
Number of transactions undertaken through agency banking in Kenya as of 2022, by type (in 1,000s) [Graph], Central Bank of Kenya, May 15, 2023. [Online]. Available: https://www.statista.com/statistics/1232344/number-of-agency-banking-transactions-in-kenya-by-type/
