Survey shows rising adoption of fintech growth in Kenya

A new survey and accompanying industry data reveal that fintech adoption in Kenya is surging — underscoring how digital financial services are increasingly embedded in everyday life. According to the latest findings by Communications Authority of Kenya (CA), mobile money subscriptions reached 47.7 million, bringing the penetration rate to an impressive 91% by June 2025. Simultaneously, the number of mobile money agents rose by over 9% to about 453,480, improving access across urban and rural areas.
The survey attributes this upward trend to expanding mobile phone and smartphone ownership, growing internet connectivity, and the convenience of digital financial services. CA’s data shows that as of mid-2025, Kenya had over 73 million mobile phone connections — of which more than 43 million were smartphones. These conditions make it easier for people to use mobile wallets, digital banking, and fintech platforms for payments, savings, loans, and transfers, contributing to broader financial inclusion.
Beyond user adoption, fintech in Kenya is also seeing rising institutional and startup-level growth. A 2025 market analysis estimates the country’s overall mobile-money and fintech ecosystem to be worth around USD 3.5 billion, driven by digital banking, payment solutions, remittances, and other fintech services. Furthermore, a growing number of fintech startups are scaling rapidly — as highlighted in a September 2025 roundup of Kenya’s top fintech ventures.
Experts reviewing the data say the rising adoption signals a maturing digital-finance ecosystem that’s extending access to previously underserved populations — including rural communities, micro-enterprises, and low-income households. They see fintech not just as a convenience, but as a key driver of financial inclusion, economic empowerment, and digital transformation for Kenya’s future.