Kenya Mobile Money Market Report by Technology (USSD, Mobile Wallets, and Others), Business Model (Mobile Led Model, Bank Led Model), Transaction Type (Peer to Peer, Bill Payments, Airtime Top-ups, and Others) 2025-2033

Kenya Mobile Money Market Report by Technology (USSD, Mobile Wallets, and Others), Business Model (Mobile Led Model, Bank Led Model), Transaction Type (Peer to Peer, Bill Payments, Airtime Top-ups, and Others) 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A1446

Market Overview:

The Kenya mobile money market size reached USD 157.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 727.7 Billion by 2033, exhibiting a growth rate (CAGR) of 17.58% during 2025-2033.

Report Attribute
Key Statistics
Base Year
2024
Forecast Years
2025-2033
Historical Years
2019-2024
Market Size in 2024
USD 157.8 Billion
Market Forecast in 2033
USD 727.7 Billion
Market Growth Rate 2025-2033 17.58%


Mobile money is an innovative payment service that is operated under financial regulations and performed using a mobile device, offering simple person-to-person money transfer rather than complex banking transactions. It is an easy, secure, fast and affordable way of making payment.

Kenya is the second largest market for mobile money in Africa. Increasing adoption of mobile payment by major economic sectors in Kenya such as agriculture, health, retail and wholesale has supported the growth of mobile money industry in the country. Moreover, M-Pesa had launched mobile money services which included financial transactions such as deposit and withdrawal of money, transfer money, pay bills, etc. This initiative by M-Pesa has further boosted the mobile financial services market in Kenya. The popularity of mobile money is currently increasing among businesses in the country. It is largely being used for peer to peer transfer, cash transfer and purchasing goods and services. A large number of businesses and persons are using mobile money platform as a primary account for financial transactions. Various other factors driving the mobile money market in Kenya are increasing use of smart phones, rising internet penetration, lack of access to formal banking and increasing financial inclusion.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Kenya mobile money market report, along with forecasts for the period 2025-2033. Our report has categorized the market based on technology, business model and transaction type.

Breakup by Technology:

  • USSD
  • Mobile Wallets
  • Others

Currently, USSD holds majority of the market share in the Kenya mobile money market.

Breakup by Business Model:

  • Mobile Led Model
  • Bank Led Model

Currently, mobile led model holds the largest share in the Kenya mobile money market.

Breakup by Transaction Type:

  • Peer to Peer
  • Bill Payments
  • Airtime Top-ups
  • Others

Currently, peer to peer transaction type holds the highest share in the market.

Competitive Landscape:

The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:

  • M-Pesa (Vodafone Group)
  • Equitel Inc.
  • MobiKash Afrika Limited
  • Airtel Money

Report Coverage:

Report Features Details
Base Year of the Analysis 2024
Historical Period 2019-2024
Forecast Period 2025-2033
Units Billion USD
Segment Coverage Technology, Business Model, Transaction Type
Companies Covered M-Pesa (Vodafone Group), Equitel Inc., MobiKash Afrika Limited, Airtel Money
Customization Scope 10% Free Customization
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Questions Answered in This Report:

  • How has the Kenya mobile money market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the Kenya mobile money market?
  • What is the breakup of the Kenya mobile money market based on the technology?
  • What is the breakup of the Kenya mobile money market based on the business model?
  • What is the breakup of the Kenya mobile money market based on the transaction type?
  • What are the various stages in the value chain of the Kenya mobile money market?
  • What are the key driving factors and challenges in Kenya mobile money market?
  • What is the structure of the Kenya mobile money market and who are the key players?
  • What is the degree of competition in the Kenya mobile money market?

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Kenya Mobile Money Market Report by Technology (USSD, Mobile Wallets, and Others), Business Model (Mobile Led Model, Bank Led Model), Transaction Type (Peer to Peer, Bill Payments, Airtime Top-ups, and Others) 2025-2033
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