A 19-year journey in mobile money has delivered 40 million monthly active users, marking a defining moment for Kenya’s digital payments landscape while reinforcing the scale and reach of mobile-led financial services.
Safaricom announced the milestone on March 6, 2026, as its flagship platform M-PESA continues to anchor transactions, savings, credit and investment activity across the economy.
Since its rollout in 2007 as a basic person-to-person transfer tool, M-PESA has developed into a multi-layered financial ecosystem that now supports households, small enterprises, banks and institutions through a wide range of services.
The platform today spans merchant payments, lending, savings and investment products such as Fuliza, KCB M-PESA, Ziidi Money Market Fund and Ziidi Trader, alongside business solutions like Lipa na M-PESA, Pochi la Biashara and Global Pay, reflecting a shift from simple transfers to a full-service financial infrastructure embedded in daily commerce.
“Our goal is to give Kenyans, and Africa at large, digital financial tools to empower them to be more prosperous. Reaching 40 million monthly active customers in Kenya is a milestone we celebrate, as we recommit to enable every Kenyan to transact safely, grow their savings, and build their wealth. To us, every M-PESA transaction tells a story of someone building their future,” said Peter Ndegwa, chief executive of Safaricom PLC, explaining the platform’s long-term direction.
User growth over the past decade illustrates both rapid uptake and gradual market maturity, with monthly active customers rising from 9.8 million in 2012 to 40 million in 2026.
Expansion gathered pace in the mid-2010s as Kenya’s Safaricom built an extensive agent network and accelerated merchant adoption through Lipa na M-PESA, lifting users from 12.16 million in 2014 to 20.55 million in 2018.
Momentum continued during the pandemic years as digital payments replaced cash across many sectors, pushing users from 22.64 million in 2019 to 28.31 million in 2021, before steady gains carried the base to 35.8 million in FY2025 and now 40 million.
Financial performance data places M-PESA at the centre of the telecom’s earnings structure, with mobile money contributing more than 40 per cent of service revenue.
Safaricom reported total revenue of Ksh388.7 billion in FY2025, up from Ksh310.9 billion in FY2023 and Ksh249.1 billion in FY2019, while M-PESA revenue reached Ksh161.3 billion, rising from Ksh140.1 billion a year earlier and Ksh117.2 billion two years prior.
Transaction volumes remain vast, with the platform processing over 21.9 billion transactions valued at about Ksh20.2 trillion in the six months to September 2025, underlining its role as a core payments backbone linking consumers, businesses and institutions.
Operational investments over the past year have centred on technology upgrades, fraud management systems and customer awareness efforts aimed at strengthening reliability and trust as usage scales further.
Under the Fintech 2.0 framework, the telecom has expanded capabilities that allow users to save, invest and manage funds directly from mobile devices, while maintaining safeguards around financial data and transactions in an increasingly digital environment.
Beyond commercial performance, M-PESA continues to shape Kenya’s financial inclusion trajectory, with mobile services widening access to tools that were once limited to formal banking channels.
The platform’s expansion mirrors a wider continental shift toward mobile-first financial systems, where digital infrastructure is bridging access gaps and enabling participation in economic activity across income levels and geographies.
“M-PESA remains committed to ensuring that everyone has the confidence and tools to navigate life’s financial journey,” Ndegwa said, pointing to continued innovation as the service enters its third decade.
