The Monetary Economics of E-Money in East Africa
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Date
2023-06
Authors
Mbiti, Isaac
Weil, David N.
Journal Title
Journal ISSN
Volume Title
Publisher
African Economic Research Consortium, Nairobi
Abstract
This paper updates and extends previous research that has looked at the roll-out of
phone-based electronic money in East Africa. To the extent possible, we do parallel
analyses for Kenya, Tanzania, Rwanda, and Uganda, although, data limitations in the
latter two countries severely limit our analysis. Where possible, we present data on
the outstanding level of e-float, the magnitude of monthly customer-to-customer
transfers, and the average size of person-to-persontransfers. In addition, we construct
two measures of particular interest to monetary economists: the velocity of e-money
and length of the “cash loop.”