Kenya’s digital payment boom is leaving mobile money agents stranded 

Mobile money shops were once among Kenya’s simplest small businesses, built around customers depositing, withdrawing, and sending cash. Now, the network is shrinking as more Kenyans transact directly from their phones. 

Data released by Kenya’s tech regulator, the Communications Authority (CA), reveals a sharp structural shift in the mobile financial ecosystem. Between March and June, the country lost roughly 34,000 mobile money agents. The total number of registered agents dropped by 5.6%, falling from 602,470 to 568,463 in just three months.

The contraction in physical infrastructure does not signal a slowing market. During the exact same three-month window, total mobile money subscriptions grew by 1.2%, rising from 53.37 million to 54.01 million. Annually, subscriptions surged by 13.2%.