Kenya has approximately 25 million mobile subscribers and 10.2 million Internet users. Mobile penetration stands at 63.2 per cent, with the majority using their devices for money transfers and Internet access. Link to external site : Website for Kenya |  |
| Wallets | |
| Development | Developing |
| Send or Receive |
Receive Register/Log In |
| GDP ($m) |
24,189.88 Register/Log In |
| HDI classification | Medium |
| Mobile Connections (m) |
27.251 Upgrade to Bronze |
| Currency | KES |
| Class | |
| CountryISO | KE |
| Sovereignity | Country |
| Territory of | - NA - |
| Channel Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["ATM",1],["Agent",2],["Location",1],["Mobile",8],["POS",1],["Web",3]],"options":{"title":"Initiatives ( 10 of 10 )"}} |
| COT Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["",3],["Bank",3],["MNO",2],["TechWeb",1],["Vendor",1]],"options":{"title":"Initiatives ( 10 of 10 )"}} |
| Persona Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["DB",1],["MB",2],["MM",2],["MT",1],["MW",2],["OP",2]],"options":{"title":"Initiatives ( 10 of 10 )"}} |
| Products |
{"type":"ColumnChart","data":[["Category","Initiatives"],["AT",5],["B2P",1],["BP",4],["CICO",1],["D2B",1],["DAT",3],["DMT",4],["IAT",1],["IMT",3],["LP",1],["MB",3],["MFI",1],["MM",1],["MP",4],["MW",2],["NFC",1],["OP",2],["Offers",1],["Trade",2],["Transport",1],["VC",1]],"options":{"title":"Initiatives ( 10 of 10 )"}} |
| PI Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["Account",3],["Card",3],["Cash",7],["NFC",1],["PC",2],["Wallet",5]],"options":{"title":"Initiatives ( 10 of 10 )"}} |
| Central Bank | |
| Key Regulations |
New enabling regulations for Mobile Money in 2014.
Earlier: Undertaken in an absence of legislation governing payment systems, e-money, bank agents,consumer protection, and anti-money laundering and combating the financing of terrorism; Passage by Parliament in late 2009 of an AML/CFT bill, which applies to both bank and nonbank institutions. Draft AML bill could need extensive records for each txn. National Payments Systems bill is expected to enter the Parliamentary process in 2010 to cover e-money. Banks’ Use of Agents. In November 2009, Kenya amended the Banking Act to include provisions on FI use of agents to provide banking services. No laws dealing with emoney CBK’s Payment Systems Division has the authority to ask for information from nonbank payment service providers, but it does not have the power to inspect them |
| Type of law |
Hybrid Upgrade to Bronze |
| Legal System |
Mixed legal system of English common law, Islamic law, and customary law; judicial review in High Court Upgrade to Bronze |
| Law is based on | |
| Approach |
Short leash Upgrade to Bronze |
| Sectors active in Digital Money |
NonBank Upgrade to Bronze |
| Exclusivity | |
| Certainty | |
| Openness | |
| Proportionate? | |
| Allowed Models |
NB Led Upgrade to Bronze |
| DominantModel |
MNO Led Upgrade to Bronze |
| E-Money |
Current implementations: In case of M-PESA Kenya, the float is held by M-PESA Trust Company Limited in trust accounts with 2 commercial banks that pool client funds. Interest earned on this cannot benefit Safaricom In the absence of legal framework, the issuing of e-money by a licensed financial institution does not appear to raise any issues with CBK. |
| Payment | |
| Agent |
The recent move by Central Bank to release the guidelines on agent banking - officially paving way for commercial banks and financial institutions to hire non banking institution as their agents - is expected to drive growth of money transfer business. As M-PESA is not banking activity, Safaricom free to choose agents on business judgement. Safaricom bears no responsibility for negligence. Agents are not allowed to open accounts on behalf of banks |
| Money Transfer |
Agents not permitted to exchange foreign currency Upgrade to Bronze |
| Taxation |
| Population m | 37.53 |
| Adult % | 57.00 |
| Migrants % |
1.00 Register/Log In |
| Stock Immigrants ('000) |
817.70 Upgrade to Bronze |
| Emigration Rate % | |
| Internal Migrants ('000) |
3,500.00 Upgrade to Bronze |
| Internal Migration Rate % |
12.60 Upgrade to Bronze |
| Intl Movement Rate % | |
| Urban % | 21.00 |
| Female % | 50.80 |
| Literate % | 85.10 |
| Annual Growth % |
| Mobile Penetration % | 56.52 |
| Banked % | 10.00 |
| Access to FS % | 10.00 |
| Internet % | 8.00 |
| Branches per 100k adults | 4.03 |
| ATMs per 100k adults | 6.67 |
| POS per 100k adults | 0.00 |
| Prepaid % | 98.80 |
| Prepaid SIM Registration |
2 Compulsory Upgrade to Bronze |
| MobileUnbanked (m) | 19.09 |
| Monthly ARPU | |
| Cards 2010 ('000) | |
| Propensity % |
| Overall | |
| Population | |
| On Remittance Sent | |
| On Remittance Received | |
| Mobile Unbanked | |
| Migrant % | |
| MP % | |
| Banked % | |
| Development |
| Can Provide Payments? | |
| Can Market under Brand? | |
| Can issue E-Money? | |
| Can Open Customer Account? | |
| Can Own Customer? | |
| Can do Cash In/Cash Out? | |
| Can offer Domestic Money Transfer? | |
| Can offer International Money Transfer? |
| Importance for Digital Money | |
| Digital Money Adoption |
Mainstream Upgrade to Bronze |
| Registered Wallet Users |
9,000,000 Upgrade to Bronze |
| Top Wallets |
M-Pesa; Zap; yuCash Upgrade to Bronze |
| Informal Market | |
| Cost To Remit | |
| Key Players |