Kenya’s mobile money landscape is undergoing a notable transformation as per the latest data from the Communications Authority of Kenya (CA) for the first three months of 2025.

Several factors are fueling Airtel Money’s rise:

In May 2025, Safaricom announced a US$309 million investment to modernize M-Pesa into a cloud-native, scalable platform. The goal is to reassert its dominance by enhancing speed, reliability, and innovation.

While M-Pesa still holds a commanding lead, the market dynamics suggest it can no longer rely on inertia. Airtel Money’s steady ascent signals growing competition in Kenya’s fintech ecosystem, driven by pricing, innovation, and better distribution. With agent-level interoperability expected soon, the fight for market share is only set to intensify.

The question now is whether Airtel Money can sustain this momentum—and whether M-Pesa can adapt fast enough to hold its ground.