Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
STATISTICS | Mobile Money Agents in Kenya Transacted 53% of Kenya’s GDP in 2024, Says Central Bank of Kenya (CBK)
In 2024, mobile money agents in Kenya facilitated transactions worth KES 8.7 trillion ($67.3 billion) highlighting the growing reliance on mobile money services in the country.
According to data from the Central Bank of Kenya (CBK), this figure represents a 9.4% increase from the KES 7.95 trillion ($61.5 billion) recorded in 2023, reflecting an additional KES 744 billion ($5.75 billion) in transactions. The total amount transacted equates to 53% of Kenya’s gross domestic product (GDP), which stood at KES 15.1 trillion ($116.7 billion).
Policy Changes Driving Growth
The surge in mobile money transactions coincided with regulatory changes, including the removal of withdrawal codes for money transfers between mobile networks. Previously, Airtel Money users were required to withdraw funds within a week of receipt, or the money would be reverted to the sender.
“There was growth in mobile money following the removal of withdrawal codes for transactions sent from M-PESA to Airtel Money, making it possible to transfer funds directly between the two mobile wallets.”
Mobile Money and Financial Inclusion
The expansion of mobile money services has played a crucial role in enhancing financial inclusion in Kenya. A CBK-led survey conducted last year found that formal financial access has significantly improved, largely due to mobile technology.
Financial inclusion in Kenya reached 85% in 2024, a substantial rise from just 27% in 2006. This metric reflects how households access and utilize financial services to meet their financial needs and life priorities.
Mobile money remains the most widely used financial platform in the country, with the 2024 FinAccess Household Survey revealing that 82.3% of Kenyan households rely on mobile money services for their financial transactions.
Growth in Mobile Money Agents
The CBK data further indicates that the number of active mobile money agents reached an all-time high of 383,624 in November 2024 before slightly declining to 381,116 in December 2024.
M-PESA continues to dominate Kenya’s mobile money market, commanding a 92.3% market share. This dominance has also made mobile money one of the key revenue drivers for Safaricom.
As mobile money adoption continues to grow, its role in financial inclusion and economic transactions remains integral to Kenya’s digital economy.
Follow us on X for the latest posts and updates
Join and interact with our Telegram community
___________________________________________
___________________________________________