Nairobi – Mobile‑money subscriptions in Kenya surged to 51.4 million in 2025, a 21.4 percent increase from the previous year, according to the Kenya National Bureau of Statistics (KNBS) Economic Survey 2026. The growth reflects a broader shift toward digital financial services, particularly peer‑to‑peer (P2P) transfers.
The value of person‑to‑person transfers rose sharply, reaching Sh8.66 trillion in 2025 compared with Sh6.81 trillion in 2024. The expansion of P2P activity underscores the rising reliance on mobile platforms for direct money transfers between users, a trend that has been driven by the convenience and lower cost of digital transactions.
In contrast, activity through mobile‑money agents showed a decline. Deposits made via agents fell 10.1 percent to Sh5.45 trillion, down from Sh6.06 trillion a year earlier. Withdrawals and transfers processed by agents also slipped, decreasing to Sh8.24 trillion from Sh8.70 trillion. The contraction suggests that more users are retaining funds within digital wallets rather than converting them to cash.
Mobile commerce transactions experienced a modest dip, moving from Sh21.98 trillion in 2024 to Sh21.34 trillion in 2025. While the decline is slight, it may indicate a softening in consumer spending or a shift in payment preferences toward alternative channels.
The data points to a maturing mobile‑money ecosystem in Kenya. The surge in subscriptions and P2P transfer volumes highlights growing consumer confidence in digital finance, while the reduced reliance on agent‑based services signals a transition away from cash‑centric habits. As more Kenyans adopt mobile wallets for everyday transactions, the financial landscape is likely to continue evolving toward greater digitisation and efficiency.
The KNBS figures provide a benchmark for policymakers, regulators, and industry stakeholders as they assess the impact of mobile money on financial inclusion and economic activity. Ongoing monitoring will be essential to understand how these trends influence broader economic indicators and to ensure that the regulatory framework keeps pace with rapid digital adoption.
