Safaricom PLC continues to dominate Kenya’s mobile money market, accounting for 88.8 per cent of subscriptions as the country’s digital payments ecosystem recorded further growth in the fourth quarter of the 2025/26 financial year.
According to the latest sector statistics from the Communications Authority of Kenya (CA), mobile money subscriptions increased from 53.4 million in March 2026 to 54.0 million by June 2026.
The growth represented a 1.2 per cent quarterly increase, adding approximately 637,000 subscriptions over the three months. On an annual basis, mobile money subscriptions rose by 13.2 per cent.
Safaricom Accounts for 47.8 Million Subscriptions
Safaricom remained the dominant player, with its mobile money service accounting for 47,847,646 subscriptions during the quarter.
The figure gives the telecommunications company an 88.8 per cent share of Kenya’s mobile money subscription market, underlining the scale of its M-PESA platform.
M-PESA has become deeply integrated into everyday economic activity, supporting transactions ranging from person-to-person transfers and payments for goods and services to business operations and other digital financial services.
The continued growth in subscriptions also comes as customers increasingly use mobile platforms for activities that previously relied heavily on cash or physical banking channels.
Mobile Money Penetration Crosses 100 Per Cent
The increase in subscriptions pushed Kenya’s mobile money penetration to 101.3 per cent in June, compared with 100.1 per cent in March.
Penetration above 100 per cent reflects the ability of individuals to hold multiple mobile money subscriptions and does not mean every Kenyan has a mobile money account.
For Safaricom, the figures highlight the extensive reach of its M-PESA infrastructure and its continued position within Kenya’s digital payments landscape.
Digital Services Drive Telecom Revenues
Mobile money is also contributing significantly to the wider telecommunications sector.
The CA report shows that “other service revenue”, which includes mobile money, roaming services, bulk SMS, and airtime credit services, accounted for 42.8 per cent of total mobile service revenues in 2025.
The category was the largest revenue segment within mobile services.
Overall mobile service revenues increased by 3.6 per cent to KSh440.9 billion during the year.
With mobile money subscriptions continuing to expand, Safaricom’s M-PESA ecosystem remains central to Kenya’s shift towards digital payments, with future growth increasingly shaped by the platforms, services, and infrastructure built around mobile transactions.