Kenya’s mobile money sector continues to drive growth in a maturing telecommunications market, with subscriptions reaching 51.36 million in the second quarter of the 2025/26 financial year, according to the Communications Authority of Kenya.
While total mobile (SIM) subscriptions barely increased by 0.1% to 78.4 million, mobile money uptake grew 5.6%, highlighting a shift in the industry: growth is no longer defined by new subscribers, but by the depth and diversity of services consumers use.
Safaricom remained the dominant player in mobile money through M-Pesa, accounting for 45.7 million users, roughly 89% of the market. Rivals are gradually making inroads; Airtel Money Kenya increased its subscriptions to 5.6 million, lifting its market share to 11.0% from 10.3% in the previous quarter. Analysts say even modest gains are significant in a highly concentrated market, signaling early competitive shifts.
This competitive dynamic is mirrored in broader mobile subscriptions. Safaricom remains the largest network with about 53.9 million subscriptions, followed by Airtel Kenya with 24.3 million, Telkom Kenya with 1.1 million, and smaller operators and MVNOs holding marginal shares.
Voice services continue to play a key role in engagement. Airtel Kenya recorded 11.83 billion minutes of voice traffic, up 2.4% from the previous quarter, with off-net calls rising 8.4%, showing increased cross-network communication. Airtel users averaged 2.7 minutes per call, compared to about 1.6 minutes on Safaricom, illustrating how pricing continues to shape usage patterns.
At the same time, data adoption is rising steadily. Mobile data subscriptions grew 2.9%, broadband connections by 9.3%, and overall smartphone adoption increased 9.1%, reinforcing the trend toward a data-driven digital economy. Meanwhile, SMS volumes declined across all networks, reflecting a structural shift toward internet-based messaging platforms.
Other players, including Jamii Telecommunications, remain niche, while entrants like Starlink are starting to influence connectivity, particularly in underserved regions, which may create new channels for mobile money adoption in the future.
The latest report highlights that Kenya’s telecom sector is moving beyond subscriber numbers. Market leadership is increasingly determined by how well operators integrate financial services, maintain affordability, and deepen consumer engagement, making mobile money central to the country’s digital economy.