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Kenya Mobile Money Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The Kenya mobile money market size reached US$ 89.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 315.8 Billion by 2027, exhibiting a growth rate (CAGR) of 20.46% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor. 

Mobile money is an innovative payment service that is operated under financial regulations and performed using a mobile device, offering simple person-to-person money transfer rather than complex banking transactions. It is an easy, secure, fast and affordable way of making payment.

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Kenya is the second largest market for mobile money in Africa. Increasing adoption of mobile payment by major economic sectors in Kenya such as agriculture, health, retail and wholesale has supported the growth of mobile money industry in the country. Moreover, M-Pesa had launched mobile money services which included financial transactions such as deposit and withdrawal of money, transfer money, pay bills, etc. This initiative by M-Pesa has further boosted the mobile financial services market in Kenya. The popularity of mobile money is currently increasing among businesses in the country. It is largely being used for peer to peer transfer, cash transfer and purchasing goods and services. A large number of businesses and persons are using mobile money platform as a primary account for financial transactions. Various other factors driving the mobile money market in Kenya are increasing use of smart phones, rising internet penetration, lack of access to formal banking and increasing financial inclusion.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Kenya mobile money market report, along with forecasts for the period 2022-2027. Our report has categorized the market based on technology, business model and transaction type.

Breakup by Technology:

 

 
 

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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • USSD
  • Mobile Wallets
  • Others


Currently, USSD holds majority of the market share in the Kenya mobile money market.

Breakup by Business Model:

  • Mobile Led Model
  • Bank Led Model


Currently, mobile led model holds the largest share in the Kenya mobile money market.

Breakup by Transaction Type:

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

Currently, peer to peer transaction type holds the highest share in the market.

Competitive Landscape:

The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry. Some of the key players include:

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

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Technology, Business Model, Transaction Type
Companies Covered M-Pesa (Vodafone Group), Equitel Inc., MobiKash Afrika Limited and Airtel Money
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Key Questions Answered in This Report:

  • How has the Kenya mobile money market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the Kenya mobile money market?
  • What is the breakup of the Kenya mobile money market based on the technology?
  • What is the breakup of the Kenya mobile money market based on the business model?
  • What is the breakup of the Kenya mobile money market based on the transaction type?
  • What are the various stages in the value chain of the Kenya mobile money market?
  • What are the key driving factors and challenges in Kenya mobile money market?
  • What is the structure of the Kenya mobile money market and who are the key players?
  • What is the degree of competition in the Kenya mobile money market?

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Kenya Mobile Money Market
    5.1    Market Overview
    5.2    Market Performance 
    5.3    Impact of COVID-19
    5.4    Market Breakup by Technology
    5.5    Market Breakup by Business Model
    5.6    Market Breakup by Transaction Type
    5.7    Market Forecast
    5.8    SWOT Analysis
        5.8.1    Overview
        5.8.2    Strengths
        5.8.3    Weaknesses
        5.8.4    Opportunities
        5.8.5    Threats
    5.9    Value Chain Analysis 
    5.10    Porters Five Forces Analysis
        5.10.1    Overview
        5.10.2    Bargaining Power of Buyers
        5.10.3    Bargaining Power of Suppliers
        5.10.4    Degree of Competition
        5.10.5    Threat of New Entrants
        5.10.6    Threat of Substitutes
6   Market Breakup by Technology
    6.1    USSD
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Mobile Wallets
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Others
        6.3.1    Market Trends
        6.3.2    Market Forecast
7   Market Breakup by Business Model
    7.1    Mobile Led Model
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Bank Led Model
        7.2.1    Market Trends
        7.2.2    Market Forecast
8   Market Breakup by Transaction Type
    8.1    Peer to Peer
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Bill Payments
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Airtime Top-ups
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Others
        8.4.1    Market Trends
        8.4.2    Market Forecast
9   Regulatory Framework
10  Competitive Landscape

    10.1    Market Structure
    10.2    Key Players
    10.3    Profiles of Key Players
        10.3.1    M-Pesa (Vodafone Group)
        10.3.2    Equitel Inc.
        10.3.3    MobiKash Afrika Limited
        10.3.4    Airtel Money

List of Figures

Figure 1: Kenya: Mobile Money Market: Major Drivers and Challenges
Figure 2: Kenya: Mobile Money Market: Transaction Value (in Billion US$), 2016-2021
Figure 3: Kenya: Mobile Money Market: Breakup by Technology (in %), 2021
Figure 4: Kenya: Mobile Money Market: Breakup by Business Model (in %), 2021
Figure 5: Kenya: Mobile Money Market: Breakup by Transaction Type (in %), 2021
Figure 6: Kenya: Mobile Money Market Forecast: Transaction Value (in Billion US$), 2022-2027
Figure 7: Kenya: Mobile Money Industry: SWOT Analysis
Figure 8: Kenya: Mobile Money Industry: Value Chain Analysis
Figure 9: Kenya: Mobile Money Industry: Porter’s Five Forces Analysis
Figure 10: Kenya: Mobile Money Market (USSD): Transaction Value (in Billion US$), 2016 & 2021
Figure 11: Kenya: Mobile Money Market Forecast (USSD): Transaction Value (in Billion US$), 2022-2027
Figure 12: Kenya: Mobile Money Market (Mobile Wallets): Transaction Value (in Billion US$), 2016 & 2021
Figure 13: Kenya: Mobile Money Market Forecast (Mobile Wallets): Transaction Value (in Billion US$), 2022-2027
Figure 14: Kenya: Mobile Money Market (Others): Transaction Value (in Billion US$), 2016 & 2021
Figure 15: Kenya: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2022-2027
Figure 16: Kenya: Mobile Money Market (Mobile Led Model): Transaction Value (in Billion US$), 2016 & 2021
Figure 17: Kenya: Mobile Money Market Forecast (Mobile Led Model): Transaction Value (in Billion US$), 2022-2027
Figure 18: Kenya: Mobile Money Market (Bank Led Model): Transaction Value (in Billion US$), 2016 & 2021
Figure 19: Kenya: Mobile Money Market Forecast (Bank Led Model): Transaction Value (in Billion US$), 2022-2027
Figure 20: Kenya: Mobile Money Market (Peer to Peer): Transaction Value (in Billion US$), 2016 & 2021
Figure 21: Kenya: Mobile Money Market Forecast (Peer to Peer): Transaction Value (in Billion US$), 2022-2027
Figure 22: Kenya: Mobile Money Market (Bill Payments): Transaction Value (in Billion US$), 2016 & 2021
Figure 23: Kenya: Mobile Money Market Forecast (Bill Payments): Transaction Value (in Billion US$), 2022-2027
Figure 24: Kenya: Mobile Money Market (Airtime Top-ups): Transaction Value (in Billion US$), 2016 & 2021
Figure 25: Kenya: Mobile Money Market Forecast (Airtime Top-ups): Transaction Value (in Billion US$), 2022-2027
Figure 26: Kenya: Mobile Money Market (Others): Transaction Value (in Billion US$), 2016 & 2021
Figure 27: Kenya: Mobile Money Market Forecast (Others): Transaction Value (in Billion US$), 2022-2027
Figure 28: Kenya: Mobile Money Market: Breakup by Key Players (in %)

List of Tables

Table 1: Kenya: Mobile Money Market: Key Industry Highlights, 2021 and 2027
Table 2: Kenya: Mobile Money Market Forecast: Breakup by Technology (in Billion US$), 2022-2027
Table 3: Kenya: Mobile Money Market Forecast: Breakup by Business Model (in Billion US$), 2022-2027
Table 4: Kenya: Mobile Money Market Forecast: Breakup by Transaction Type (in Billion US$), 2022-2027
Table 5: Kenya: Mobile Money Market: Competitive Structure
Table 6: Kenya: Mobile Money Market: Key Players


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