Kenya's mobile-money market has experienced significant growth, with subscriptions reaching 54.01 million by June. This represents a 13.2% increase during the 2025/26 financial year. The penetration rate stands at 101.3%, indicating that one person can have more than one mobile-money account or subscription. This growth is part of a broader shift toward mobile-based payments and financial services in the country.
The expansion of mobile money is occurring alongside growth in Kenya's telecommunications market. Active mobile subscriptions reached almost 88 million by June, while smartphone connections climbed to 52.26 million. Mobile data subscriptions reached 64.26 million, up 9.7% from a year earlier. This increase in mobile data subscriptions gives consumers greater access to applications and online services through mobile networks.
The mobile-money market in Kenya remains highly concentrated, with Safaricom holding an 88.8% share of mobile-money transfers at the end of June. The company also dominated mobile subscriptions and mobile broadband subscriptions, with 69.8% and 64.4% shares, respectively. This concentration highlights Safaricom's significant role in Kenya's mobile-money market.
The growth of mobile money has become increasingly important to telecom operators' revenue models. Kenya's mobile-service revenue rose 3.6% to KSh440.9 billion in 2025. The largest revenue category was "other services," which accounted for 42.8% of total mobile-service revenue. This category includes mobile money, roaming, bulk SMS, and airtime credit.
The figures illustrate the changing economics of telecommunications in Kenya. Voice and SMS remain important services, but financial services and data are becoming a larger part of the commercial value generated by mobile networks. Data accounted for 28.2% of mobile-service revenue, while voice and SMS accounted for 25.6% and 3.4%, respectively.
Smartphone adoption is accelerating in Kenya, with 52.26 million smartphones connected to mobile networks by June. This is compared to 27.42 million feature phones. The Communications Authority attributes this growth to the expansion of 4G and 5G networks. Mobile broadband subscriptions reached 54.93 million, representing 85.5% of total mobile data subscriptions.
The country's communications habits are changing alongside its payment habits. Domestic SMS traffic declined 0.3% during the financial year to 57.1 billion messages. The regulator links part of this decline to internet-based messaging services such as WhatsApp. The continued expansion of mobile money places payments at the center of an increasingly digital mobile ecosystem in Kenya.
Key points
- Mobile-money subscriptions in Kenya reached 54 million by June, driven by the country's shift toward mobile-based payments and financial services.
- Safaricom dominates Kenya's mobile-money market, holding an 88.8% share of mobile-money transfers at the end of June.
- The growth of mobile money is becoming increasingly important to telecom operators' revenue models, with "other services" accounting for 42.8% of total mobile-service revenue.
