Mobile money subscriptions in Kenya increased by about two million in the third quarter of the 2025/26 financial year (January–March 2026), pushing total subscriptions to 53.4 million, according to the Communications Authority of Kenya (CA).
The CA’s latest sector statistics show subscriptions rose from 51.4 million in the previous quarter to 53.4 million, representing quarterly growth of 3.9%. The regulator said the increase reflects continued uptake of digital financial services across the country.
Agent networks expanded at a faster pace than subscriber growth during the quarter. Registered mobile money agents rose to 602,470 from 501,399 in the prior quarter, a 20.2% increase equivalent to about 101,000 additional agents, the CA statistics show.
The latest figures underscore the central role mobile money continues to play in Kenya’s payments and financial services landscape, supporting everyday transactions for households and micro and informal businesses. The expansion of agent networks is also significant for cash-in and cash-out availability, particularly in areas where traditional banking coverage is limited.
The CA statistics further indicate that Safaricom remained the largest player in the market, accounting for 89.1% of mobile money subscriptions during the quarter. The report attributes continued scaling of mobile money usage to ongoing investments in technology capacity within the ecosystem.
“Safaricom remains the market leader in the mobile money market, accounting for 89.1% of mobile money subscriptions,” the Communications Authority of Kenya said in its Q3 sector statistics for FY2025/26.
The regulator’s report also references activity levels within Safaricom’s M-PESA platform, stating that in FY26 the Kenya ecosystem processed approximately 46.41 billion transactions valued at KSh 41.68 trillion. The CA report notes that transaction volumes continue to be driven by small-value payments, citing approximately 17.1 billion “Kadogo” transactions in FY26, which it said accounted for 36.8% of total M-PESA transaction volumes.
Beyond payments and transfers, the CA statistics point to continued product expansion into savings, investment and insurance via mobile money-linked offerings. As of 15 June 2026, the CA report said Ziidi Trader recorded about 688,000 opt-ins and more than 103,000 active traders, facilitating about 533,000 trades involving 171 million shares with a traded value of about KSh 1.9 billion.
In money market investing, the CA statistics show Ziidi MMF had about 7.7 million opt-ins, with 2.42 million active investing subscribers and assets under management of about KSh 19.8 billion. The CA also reported that the Shariah-compliant Ziidi Shariah had about 836,000 opt-ins, more than 102,000 investing subscribers and assets under management of about KSh 154 million.
On the insurance side, the regulator said the Tuunza product had about 759,000 opt-ins, with 87,000 customers purchasing cover, covering more than 205,000 lives through over 7,100 active policies.
For smaller-scale savings, Ziidi Pochi had about 1.46 million opt-ins, with nearly 196,000 active saving users and assets under management of about KSh 318 million, the CA report said.
Industry-wide, the CA statistics suggest Kenya’s mobile money market is increasingly evolving from a payments channel into a broader digital finance distribution layer. For Kenya’s banking, insurance and capital markets, this trend may intensify competition on customer acquisition and product distribution, while increasing the importance of partnerships and regulatory oversight around consumer protection, data, and product suitability.
Looking ahead, CA’s subsequent quarterly releases will be watched for whether agent expansion remains elevated and whether growth in savings, investment and insurance activity continues to scale alongside core payments and transfers.