Kenya’s mobile money subscriptions rose by about two million in the third quarter of the 2025/26 financial year, pushing total subscriptions to 53.4 million, according to sector statistics released by the Communications Authority of Kenya (CA) covering January to March 2026.
The CA statistics show mobile money subscriptions increased from 51.4 million in the previous quarter to 53.4 million, representing quarterly growth of 3.9%. The figures point to continued expansion of digital financial services as mobile money remains a major channel for payments and transfers in the economy.
Agent network growth outpaced subscription growth during the quarter. The number of registered mobile money agents increased from 501,399 to 602,470, a rise of 20.2% or about 101,000 new agents, according to the CA.
The Q3 data matters for Kenya’s business landscape because mobile money agents act as the primary cash-in and cash-out infrastructure for households, informal businesses and micro-enterprises. A growing agent footprint typically supports transaction volumes, improves service availability beyond major towns, and can lower operational friction for small merchants that rely on daily liquidity.
The CA data also shows market concentration remains high. “Safaricom remains the market leader in the mobile money market, accounting for 89.1% of mobile money subscriptions,” the report said.
In the same update, the narrative around platform capacity and usage was linked to Safaricom’s recent technology upgrades. “The company’s continued investment in converged digital solutions has been supported by the M-PESA Fintech 2.0 platform upgrade, which has significantly enhanced system capacity,” the report said, adding that the upgrade is intended to support higher transaction volumes and enable additional digital financial products.
According to figures cited in the release, Safaricom’s Kenya ecosystem processed “approximately 46.41 billion transactions valued at KSh 41.68 trillion” in FY26. The report also said transaction volumes continue to be driven by frequent, low-value transfers. “During FY26, Safaricom facilitated approximately 17.1 billion Kadogo transactions, accounting for 36.8% of total M-PESA transaction volumes,” it said.
Beyond transfers and payments, the CA update pointed to growing consumer uptake of mobile-linked investment and insurance products within the M-PESA ecosystem. As of 15 June 2026, the report said Ziidi Trader had recorded “approximately 688,000 opt-ins and over 103,000 active traders,” facilitating “533,000 trades involving 171 million shares and a traded value of approximately KSh 1.9 billion.”
In savings and investment, the report described Ziidi MMF as the most mature product, with “approximately 7.7 million opt-ins,” “2.42 million active investing subscribers,” and assets under management of “approximately KSh 19.8 billion.” For a Shariah-compliant option, it said Ziidi Shariah had “approximately 836,000 opt-ins,” more than “102,000 investing subscribers” and assets under management of “approximately KSh 154 million.”
On insurance, the report said Tuunza had “approximately 759,000 opt-ins,” with “87,000 customers purchasing cover,” covering more than “205,000 lives” through over “7,100 active policies.”
At the lower end of savings products, it reported Ziidi Pochi had “approximately 1.46 million opt-ins,” nearly “196,000 active saving users,” and assets under management of “approximately KSh 318 million.” It also said Ziidi Biashara had recorded “approximately 25,000 opt-ins.”
For Kenya’s financial services and capital markets, the continued expansion of mobile money into savings, investment and insurance points to deeper competition for customer deposits and investment flows, while also widening access for first-time investors and informal earners who typically transact in small amounts.
The next milestones will be reflected in subsequent CA quarterly sector statistics, which are expected to show whether subscription gains sustain and whether agent growth translates into higher activity, as mobile money providers expand product offerings beyond payments.