Kenya Mobile Money Statistics 2026: The Definitive Numbers
Kenya has 53.4 million active mobile money subscriptions and 94.2 million registered mobile money accounts, M-PESA holds 89.1% of the market, and M-PESA alone processed KShs 41.68 trillion in transactions in its 2026 financial year, about 2.4 times Kenya’s entire GDP. This page collects every key Kenya mobile money statistic for 2026 in one place, each figure sourced to its primary origin: the Communications Authority of Kenya, the Central Bank of Kenya, and the audited annual reports of Safaricom and Airtel Africa.
Where different sources count different things, and they do, we say so plainly, because the single most common mistake in Kenyan mobile-money statistics is comparing numbers that do not measure the same thing.
At a glance: the headline numbers
53.4M
Active mobile money subscriptions
CAK, March 2026 (100.1% penetration)
94.2M
Registered mobile money accounts
CBK, June 2026
89.1%
M-PESA market share
CAK, March 2026 (by active subscriptions)
KShs 41.68T
M-PESA transaction value FY26
~2.4x Kenya’s KShs 17.58T GDP (Safaricom FY26)
136M+
M-PESA transactions per day
~KShs 114B daily (Safaricom FY26)
40.99M
M-PESA one-month-active customers
Kenya (Safaricom FY26)
602,470
Registered mobile money agents
CAK, March 2026 (~572K active per CBK, June 2026)
KShs 682B
Agent cash-in / cash-out
In a single month, June 2026 (CBK)
53.33M
Total population of Kenya
Economic Survey 2026 (via CAK)
Users: registered accounts versus active subscriptions
This is where most published statistics go wrong, so it is worth being precise.
- Active mobile money subscriptions: 53.4 million (CAK, March 2026). CAK counts subscriptions that have generated revenue in the last three months, so this is a measure of active users.
- Registered mobile money accounts: 94.2 million (CBK, June 2026). CBK counts total registered accounts, which is cumulative and can exceed the population because one person may hold M-PESA, Airtel Money and an Equitel line at once.
Agents: the cash network
Mobile money still runs on a vast human network that turns cash into digital value and back.
- 602,470 registered mobile money agents nationally (CAK, March 2026), up 20.2% in a single quarter.
- The CBK series records around 572,000 active agents by June 2026, having crossed 600,000 in March 2026. Agent counts fluctuate month to month because CBK measures active agents.
- M-PESA alone had 333,011 agents in FY26, up from 298,890 a year earlier (Source: Safaricom Annual Report FY2026).
- Those agents handled KShs 682.46 billion of cash-in and cash-out in June 2026 alone, across 212.45 million transactions that month (Source: CBK).
For scale: in March 2007, the month M-PESA launched, Kenya had 307 mobile money agents handling KShs 64 million a month. That is the scale of the transformation.
Transaction volume and value
Two very different value figures circulate for Kenyan mobile money, and both are right because they measure different layers.
- M-PESA total transaction value: KShs 41.68 trillion in FY26 (Source: Safaricom Annual Report FY2026). This covers all M-PESA transactions, person-to-person, merchant, business and more, and it is the figure equal to about 2.4 times Kenya’s GDP.
- Agent cash-in and cash-out value: about KShs 682 billion a month (CBK, June 2026). This covers only the agent cash layer, moving physical cash in and out of wallets, across all providers. It is a fraction of the total because most mobile money now moves digitally, wallet to wallet and wallet to merchant, without touching an agent.
On volume, M-PESA processed 46.4 billion transactions in FY26, up 25.1% year on year, which works out to over 136 million transactions a day. Nationally, agents handled around 212 million cash-in and cash-out transactions in June 2026 (CBK), again just the cash layer.
The takeaway is that Kenyan mobile money has moved decisively beyond cash. The agent network is still enormous, but the real action is now digital payments that never see a note or coin.
The providers
M-PESA (Safaricom)
The dominant service, 89.1% market share, 40.99 million one-month-active customers, KShs 41.68 trillion in annual value, KShs 182.7 billion in revenue, 333,011 agents, and 3.13 million merchants. It is the platform the Kenyan economy runs on. See our M-PESA hub.
Airtel Money (Airtel Africa)
The number two in Kenya, and a major pan-African player. Across Airtel Africa’s fourteen markets it served 54.1 million customers and processed US$195.9 billion in FY26, but in Kenya specifically it is a distant second to M-PESA. Its strength is breadth across the continent, and its Kenyan edge is free Airtel-to-Airtel sending. See our Airtel Money hub.
Equitel (Finserve, Equity Group)
A bank-led mobile virtual network operator running on Airtel’s network, turning the SIM into a channel to an Equity Bank account. Small by subscriber count, low single digits, but historically large by transaction value because bank-linked transactions tend to be larger. Distinct for high limits and loans up to KShs 3 million. See Equitel hub and What is Equitel.
T-Kash (Telkom)
The smallest of the four, with a low single-digit share, offering the standard send, withdraw and pay services on the Telkom network. See our T-Kash hub.
Merchants: the fastest-growing layer
The biggest growth story in the 2026 data is merchant payments. M-PESA’s combined merchant base reached 3.13 million in FY26, up from 1.83 million a year earlier (Source: Safaricom Annual Report FY2026):
- Lipa na M-PESA tills (formal Buy Goods merchants): up 54.2% to 1.04 million, revenue up 21.7% to KShs 9.3 billion.
- Pochi la Biashara tills (informal traders): up 81.5% to 2.09 million.
Kenya’s informal economy, long a cash stronghold, is digitising fast, led by the lightest-weight product.
Credit and wealth
- Fuliza, the M-PESA overdraft underwritten by NCBA and KCB, drove financial-services revenue up 20.6% to KShs 9.8 billion in FY26 (Source: Safaricom Annual Report FY2026). See our Fuliza hub.
- Ziidi, Safaricom’s wealth platform, grew assets under management to KShs 18.7 billion, with wealth management up around 250% off a small base.
The wallet is becoming a full financial account, carrying credit, savings and investment alongside payments.
Financial inclusion and the free tier
Of M-PESA’s 46.4 billion transactions in FY26, 57.8% were non-chargeable, some 26.8 billion transactions on which the customer paid nothing (Source: Safaricom Annual Report FY2026). Small transfers, the sub-KShs 100 payments of daily life, are largely free by design. More than half of all M-PESA activity by volume carries no fee at all, an affordability strategy that keeps the system universal.
From 2007 to 2026: the growth story
The CBK series lets us trace the whole arc, using its agent cash-in and cash-out data as a consistent yardstick.
| Point in time | Registered accounts | Active agents | Monthly agent cash value |
|---|---|---|---|
| March 2007 (launch) | 0.02 million | 307 | KShs 0.06 billion |
| December 2012 | 21.1 million | 76,912 | KShs 150 billion |
| December 2017 | 37.4 million | 182,472 | KShs 333 billion |
| December 2022 | 73.1 million | 317,983 | KShs 708 billion |
| June 2026 | 94.2 million | 572,104 | KShs 682 billion |
In under twenty years, mobile money in Kenya went from a few hundred agents and a rounding-error of value to a system with more registered accounts than people and hundreds of billions of shillings moving through agents every month, on top of tens of trillions moving digitally.
Methodology and sources
Read this before quoting any single number, because the sources measure different things and the differences matter.
- Communications Authority of Kenya (CAK), Third Quarter Sector Statistics Report FY2025/26, covering January to March 2026. Source for active mobile money subscriptions (53.4 million), penetration (100.1%), market share (M-PESA 89.1%), registered agents (602,470) and total mobile subscriptions (84.1 million). CAK counts active subscriptions, those that generated revenue in the last three months.
- Central Bank of Kenya (CBK), Mobile Payments statistics, monthly series to June 2026. Source for total registered mobile money accounts (94.2 million), active agents (about 572,000) and agent cash-in and cash-out volume and value (212 million transactions, KShs 682 billion in June 2026). CBK’s table covers registered accounts and the agent cash layer only, not total transaction value.
- Safaricom PLC Annual Report and Financial Statements, year ended 31 March 2026 (FY26). Source for all M-PESA operational and financial figures: transaction value (KShs 41.68 trillion), transaction count (46.4 billion), daily transactions (over 136 million), customers (40.99 million one-month-active), revenue (KShs 182.7 billion), agents (333,011), merchants (3.13 million), Fuliza, Ziidi and the free-tier share (57.8%).
- Airtel Africa plc Annual Report and Accounts 2026, year ended 31 March 2026. Source for Airtel Money figures, which cover Airtel Africa’s fourteen markets, not Kenya alone: 54.1 million customers and US$195.9 billion in total processed value.
For the full narrative
This page is the numbers reference. For the narrative report of what the 2026 filings mean for Kenya’s mobile money market, including analysis of the merchant surge, the free tier as strategy, and the M-PESA vs Airtel Money comparison in prose, read The State of Mobile Money in Kenya 2026 (narrative report).
Frequently asked questions
How many people use mobile money in Kenya?
There are 53.4 million active mobile money subscriptions as of March 2026, according to the Communications Authority of Kenya, roughly one per Kenyan given the 100.1% penetration rate. The 94.2 million figure sometimes quoted is total registered accounts (CBK, June 2026), which is higher because many people hold more than one account across M-PESA, Airtel Money, Equitel and T-Kash.
What is M-PESA’s market share in Kenya?
M-PESA held 89.1% of active mobile money subscriptions as of March 2026, according to the Communications Authority of Kenya. Airtel Money is a distant number two, with the remaining share split mainly between Airtel Money, Equitel and T-Kash.
How much money goes through M-PESA in Kenya?
M-PESA processed KShs 41.68 trillion in transactions in its 2026 financial year (year ended 31 March 2026), about 2.4 times Kenya’s nominal GDP of KShs 17.58 trillion. That is over 136 million transactions a day, worth more than KShs 114 billion daily (Source: Safaricom PLC Annual Report FY2026).
How many mobile money agents are there in Kenya?
There are about 602,470 registered mobile money agents nationally as of March 2026 (CAK). CBK’s monthly series records around 572,000 active agents by June 2026. M-PESA alone operated 333,011 agents in FY26 (Source: Safaricom Annual Report FY2026), up from 298,890 a year earlier.
Who are the mobile money providers in Kenya?
Kenya has four mobile money providers. M-PESA (Safaricom) dominates with 89.1% market share. Airtel Money (Airtel) is number two. Equitel (Finserve, Equity Group’s MVNO on Airtel’s network) is small by subscriber count but historically punches above its weight by transaction value because it is bank-linked. T-Kash (Telkom) is the smallest, with a low single-digit share.
What is Kenya’s mobile money penetration rate?
100.1% as of March 2026 (CAK). This means there is roughly one active mobile money subscription per Kenyan. Because some people hold subscriptions on more than one network, penetration can exceed 100%.
Is most mobile money in Kenya still cash-based?
No. Agent cash-in and cash-out totalled about KShs 682 billion in June 2026 (CBK), which is only the physical cash layer. Most mobile money now moves digitally between wallets and merchants without ever touching cash. M-PESA’s KShs 41.68 trillion annual total dwarfs the agent cash layer.
How many Lipa na M-PESA tills and Pochi accounts are there?
M-PESA’s combined merchant base reached 3.13 million in FY26 (Source: Safaricom Annual Report FY2026), up from 1.83 million a year earlier. Lipa na M-PESA tills (formal Buy Goods merchants) grew 54.2% to 1.04 million; Pochi la Biashara tills (informal traders like mama mbogas and boda riders) grew 81.5% to 2.09 million.
What is the free tier on M-PESA?
Of M-PESA’s 46.4 billion transactions in FY26, 57.8% were non-chargeable, some 26.8 billion transactions on which the customer paid nothing (Source: Safaricom Annual Report FY2026). Small transfers, the sub-KShs 100 payments of daily life, are largely free by design.
Where do the different mobile money statistics come from?
Four primary sources: (1) Communications Authority of Kenya (CAK) quarterly sector statistics for active subscriptions, market share and registered agents; (2) Central Bank of Kenya (CBK) monthly Mobile Payments statistics for total registered accounts and agent cash flows; (3) Safaricom PLC Annual Report FY2026 for M-PESA operational and financial figures; (4) Airtel Africa plc Annual Report and Accounts 2026 for Airtel Money figures across 14 African markets. Numbers are correct against their own definitions; comparing across sources requires care because they measure different things.