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
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024
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USD 157.8 Billion |
Market Forecast in 2033
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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.
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:
Currently, USSD holds majority of the market share in the Kenya mobile money market.
Breakup by Business Model:
Currently, mobile led model holds the largest share in the Kenya mobile money market.
Breakup by Transaction Type:
Currently, peer to peer transaction type holds the highest share in the market.
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:
Report Features | Details |
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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: