Kenya’s mobile money sector continues to demonstrate robust expansion, with total subscriptions reaching 54 million as of June 2026. This marks a 13.2 per cent surge compared to the 47.7 million subscriptions recorded in June 2025, according to official data released by the Communications Authority of Kenya.

Despite the steady overall growth in subscriber volume, market share dynamics between the primary operators have remained largely stable over the four-quarter period ending in June 2026.

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Safaricom’s M-Pesa maintains its dominant position in the mobile financial ecosystem, though its market share experienced subtle fluctuations.

In September 2025, M-Pesa commanded 89.7 per cent of the market, which dipped to 89 per cent in December 2025, rose slightly to 89.1 per cent in March 2026, and closed at 88.8 per cent in June 2026.

Concurrently, Airtel Money maintained a steady footprint, capturing 10.3 per cent of the market in September 2025.

The service gained traction in December 2025, climbing to 11 per cent market share. Following a slight contraction to 10.9 per cent in March 2026, Airtel Money rose to 11.1 per cent by June 2026, representing its highest share over the recorded four quarters.

The underlying figures highlight a consistently active mobile money market in Kenya, driven by rapid subscriber adoption year-on-year alongside subtle, ongoing realignments in market share between the leading service providers.