Kenya Mobile Money Market Size, Share, Leading Companies in the Region, Analysis and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "𝐊𝐞𝐧𝐲𝐚 𝐌𝐨𝐛𝐢𝐥𝐞 𝐌𝐨𝐧𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖″, the Kenya mobile money market size reached US$ 109.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 348.3 Billion by 2028, exhibiting a growth rate (CAGR) of 20.1% during 2023-2028.

Mobile money is a digital financial service that enables users to conduct monetary transactions using mobile devices. It has gained significant traction, particularly in regions with limited access to conventional banking. Users can deposit, withdraw, transfer funds, and make payments through a mobile interface, either via a dedicated app or SMS. Mobile money not only offers convenience and speed but also contributes to financial inclusion by serving unbanked or underbanked populations. In addition to this, the service has proven to be transformative, especially for those in rural areas, by providing a more accessible and secure way to manage finances.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/kenya-mobile-money-market/requestsample

Kenya Mobile Money Market Trends:

The ease of use and convenience offered by mobile money platforms represents one of the key factors driving the growth of the market across Kenya. Transactions are conducted anytime, anywhere, thus making it a preferred choice for many Kenyans. A large portion of Kenya's population is unbanked or underbanked. Mobile money services like M-Pesa are filling this gap, providing financial services to those who have limited access to traditional banking. The Kenyan government is supportive of digital financial solutions, which are creating a regulatory environment that is conducive to the growth of mobile money platforms. High mobile penetration rates and a well-developed telecommunications infrastructure are laying the groundwork for mobile money services to flourish. The relatively low cost of mobile phones and mobile money transactions makes it accessible to a broad segment of the population, including low-income individuals. Mobile money is often perceived as safer than carrying cash, especially in areas where crime rates are high. This perception boosts its usage for both small and large transactions, which is creating a positive outlook for the market across the country.

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Competitive Landscape With Key Players:

The competitive landscape of the kenya mobile money market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

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

Key Market Segmentation:

The report has segmented the kenya mobile money market on the basis of technology, business model, transaction type.

Breakup by Technology:

• USSD
• Mobile Wallets
• Others

Breakup by Business Model:

• Mobile Led Model
• Bank Led Model

Breakup by Transaction Type:

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

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐁𝐫𝐨𝐰𝐬𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐎𝐂 & 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐅𝐢𝐠𝐮𝐫𝐞: https://www.imarcgroup.com/request?type=report&id=1446&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀:

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This release was published on openPR.