Kenya’s mobile money market recorded contrasting movements in the three months to June 2026. While mobile money subscriptions increased, the number of registered agents declined by more than 34,000, according to the Communications Authority of Kenya (CA).
Mobile money subscriptions rose by 1.2% to 54.01 million during the quarter. The figure was also 13.2% higher than the 47.7 million subscriptions recorded a year earlier.
The increase pushed mobile money penetration to 101.3%, as more subscriptions continued to be recorded across the country. However, the growth came as the registered agent network moved in the opposite direction. The number of registered agents fell by 5.6% to 568,463 in June. This was a reduction of 34,007 from the 602,470 agents recorded in March.
The decline followed a sharp expansion in the previous quarter. Agent numbers had risen by 20.2% between December and March, increasing from 501,399 to 602,470.
However, the CA did not give a reason for the latest decline. Therefore, the figures do not establish whether outlets closed, registration records changed or operators adjusted their distribution networks.
The CA data nonetheless shows that mobile money subscriptions continued to grow even as registered agent numbers contracted. Safaricom retained 88.8% of mobile money subscriptions at the end of June.
A separate series from the Central Bank of Kenya (CBK) also recorded a decline in active agents. The number stood at 572,104 in June, down from 621,389 in March, although it had recovered from 548,010 in April.
The different figures mean the CA data alone cannot be taken as proof that 34,007 physical agent outlets closed during the quarter. Instead, the movement highlights a wider shift in Kenya’s mobile money distribution landscape.
Across Africa, financial institutions are also reviewing the role and cost of physical distribution. In Nigeria, banks cut a net 476 branches and cash centres between 2022 and 2025, reducing their network by 8.8% to 4,934 locations.
Kenya’s latest figures therefore show continued demand for mobile money services, even as the traditional agent network records a contraction.