Kenya’s mobile money sector recorded strong growth in the third quarter of the 2025/26 financial year, with subscriptions rising from 51.4 million to 53.4 million between January and March 2026, according to the latest sector statistics released by the Communications Authority of Kenya (CA).
The quarterly growth rate of 3.9% translates to roughly two million new mobile money accounts added within the three-month period.
The expansion in subscriptions was matched by an even sharper rise in agent networks. The number of registered mobile money agents grew from 501,399 to 602,470, a 20.2% quarterly increase that added more than 101,000 new agents during the period, pointing to deepening last-mile access to mobile money services nationwide.
Safaricom continued to dominate the market, accounting for 89.1% of mobile money subscriptions. The telco’s position has been reinforced by the M-PESA Fintech 2.0 platform upgrade, which has expanded system capacity to handle higher transaction volumes while supporting the rollout of new digital financial products.
The scale of Safaricom’s mobile money operation was further illustrated by its FY26 performance, during which the Kenya ecosystem processed approximately 46.41 billion transactions valued at KSh 41.68 trillion. Notably, high-frequency, low-value transactions remained the backbone of this volume, with Safaricom recording approximately 17.1 billion Kadogo transactions, representing 36.8% of total M-PESA transaction volumes — a reflection of how small-value digital payments continue to underpin daily liquidity for households, informal traders and micro-enterprises.
Beyond payments and transfers, M-PESA’s broader financial services suite is showing significant traction. As of 15 June 2026, Ziidi Trader had attracted approximately 688,000 opt-ins and more than 103,000 active traders, facilitating 533,000 trades involving 171 million shares at a traded value of around KSh 1.9 billion.
Ziidi Money Market Fund (MMF) remains the most mature product in the ecosystem, with approximately 7.7 million opt-ins, 2.42 million active investing subscribers and assets under management of roughly KSh 19.8 billion, making it the largest investment product on the M-PESA platform and a strong indicator of consumer demand for accessible digital investment tools.
On the insurance front, Tuunza has drawn approximately 759,000 opt-ins, with 87,000 customers purchasing cover across more than 7,100 active policies, extending protection to over 205,000 lives.
Ziidi Shariah, the platform’s Shariah-compliant investment product, has secured approximately 836,000 opt-ins and more than 102,000 investing subscribers, with assets under management of about KSh 154 million.
Products aimed at business and capital markets participation are also gaining ground. Ziidi Biashara has recorded approximately 688,000 opt-ins and more than 102,000 active traders, while at the lower end of the savings spectrum, Ziidi Pochi has registered approximately 1.46 million opt-ins, nearly 196,000 active saving users and assets under management of around KSh 318 million, reflecting sustained appetite for informal, accessible savings products built for smaller, more frequent transactions.
Taken together, the figures point to mobile money platforms evolving well beyond their original role as payment and transfer tools into comprehensive financial ecosystems spanning savings, investment, insurance and capital markets access. This shift continues to deepen financial inclusion and broaden access to formal financial products across Kenya’s diverse customer segments.
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