Kenya Mobile Money Market Share, Size, Trends, Key Players, Regional Analysis and Forecast 2023-2028

According to IMARC Group’s latest report, titled “Kenya Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, offers a comprehensive analysis of the industry, which comprises insights on the Kenya mobile money market share.

The Kenya mobile money market size reached US$ 109.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 348.3 Billion by 2028, exhibiting a growth rate (CAGR) of 20.1% during 2023-2028. Mobile money represents an innovative payment service that is operated under financial rules and performed utilizing a mobile device and offering easy person-to-person money transfers rather than complicated banking transactions. It is an easy, secure, fast, and affordable way of making payments. In line with this, mobile money ensures that the money can be deposited in one location and withdrawn in another. Based on technology, it is commonly segregated into unstructured supplementary service data (USSD), mobile wallets, and others.

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Kenya Mobile Money Market Trends:

The increasing internet penetration and the growing utilization of smartphones are among the key factors stimulating the Kenya mobile money market. Additionally, the introduction of M-Pesa, which include financial transactions, such as deposit and withdrawal of money, transfer of money, paying bills, etc., is further bolstering the market growth. Besides this, the widespread adoption of mobile payment services, particularly in the health, agriculture, retail, and wholesale sectors, is acting as another significant growth-inducing factor. Moreover, the inflating popularity of mobile money for peer-to-peer transfer, cash transfer, purchasing goods and services, etc., and the rising number of telecom operators that allow consumers to pay bills and access services, including loans, insurance, savings, etc., are propelling the market growth across Kenya. Apart from this, numerous businesses and individuals are using the mobile money platform as a primary account for financial transactions, which is also augmenting the demand for these payment services. Furthermore, the ease of accessibility, 24/7 availability, security, lower transaction costs, user-friendliness, etc., are anticipated to fuel the Kenya mobile money market over the forecasted period.

Competitive Landscape With Key Players:

The competitive landscape of the Kenya Mobile Money Market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

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

Key Market Segmentation:

The report has segmented the Kenya Mobile Money Market on the basis of technology, business model, transaction type.

Breakup by Technology:

• USSD
• Mobile Wallets
• Others

Breakup by Business Model:

• Mobile Led Model
• Bank Led Model

Breakup by Transaction Type:

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

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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