The value of mobile money transactions dropped by KSh 154 billion to KSh 636 billion in February from KSh 790 billion same period last year, according to data from the Kenya National Bureau of Statistics (KNBS).
- •Compared to January 2025, the value reduced from Ksh697.5 billion, in the same month when the number of transactions fell from 294.6 million to 267.9 million.
- •Despite the reduction in the value being witnessed in the first and second months of quarter one, the year 2025 has started with some of the highest number of transactions compared to the months in the previous year.
- •The number of active mobile money agents grew from 382,873 in January to 394,853 in February 2025, while mobile money subscriptions increased from 83.4 million to 84.6 million.
Communications Authority of Kenya statistics put Safaricom ahead in mobile money services controlling 91% market share in the second quarter of the 2024/5 Financial Year followed by Airtel, which controls 8.9%. Telkom Kenya with its T-Kash brand is another player in the space.
Global Scale
According to the ‘State of the Industry Report on Mobile Money 2025’ prepared by the GSMA Mobile Money programme, Mobile money continues to play a key role in economic development. By the end of 2023, the total GDP of countries with mobile money services was over $720 billion higher than it would have been without them, reflecting a 1.7% increase in GDP driven by mobile money. In Sub-Saharan Africa alone, year-on-year, mobile money added around $190 billion to GDP in 2023, demonstrating its sustained economic influence.
The report, released in April, shows transaction volumes and values for mobile money accounts experienced robust double-digit growth in 2024.
Approximately 108 billion transactions, totalling over $1.68 trillion, were processed through mobile money accounts in 2024. Year-on-year, transaction volumes increased by 20%, while transaction values grew by 16%, up from a 13% increase in 2023.
Sub-Saharan Africa remains the world’s most active mobile money region, driven by new registered accounts and rising monthly activity in East and West Africa. East Africa was the leading driver of monthly active account growth in 2024, followed by Southeast Asia and West Africa.
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