Telkom Kenya has shut down almost 90 percent of its T-Kash mobile money agent network, reports The Standard.
According to the latest data from the Communications Authority of Kenya (CA), Telkom has shut down 24,946 of the 28,106 T-Kash agents it had at the end of 2019. Telkom registered a 30 percent drop in active mobile money subscribers from 27,837 to 19,607 in the final three months of 2019, bringing its share of the market segment to 0.06 percent.
Telkom Kenya said it had scaled down its mobile money agent network after evaluating the business and in the face of several challenges. T-Kash was launched in March 2018 following a revamp of Telkom Money. At the launch of T-Kash, Telkom embarked on an aggressive agent recruitment drive.