- Mobile money deposits made through agents dropped by 1.0%, even with more agents in operation.
- The use of mobile and internet banking is fast replacing traditional banking methods.
- Mobile money transactions saw a strong increase in both value and number.
- ICT sector grew in value but also led to a rise in electronic waste.
- Konza Technopolis gained more investors and saw improved revenue.
- Kenya’s economy is expected to remain steady in 2025 despite global uncertainties.
Mobile Agent Deposits Fall Despite Rising Number
Kenya is experiencing a shift in the mobile money space, as fewer people are using agents to deposit cash. According to the 2025 Economic Survey by KNBS, deposits made through mobile money agents slightly declined by 1.0% to Ksh.6.8 billion in 2024. This comes at a time when the number of agents increased by nearly 21%, reaching 395,000.
This drop reflects a move by users towards more modern, self-managed digital banking options, particularly mobile and internet platforms.
Old-School Banking Methods Losing Ground
Information from the Central Bank of Kenya’s 2023 report shows that Automated Teller Machines (ATMs) are also being used less across the country. This trend confirms the gradual fading of physical banking methods in favour of digital services that are faster, safer, and more accessible.
Kenyans are clearly leaning into technology for everyday money transactions, from transfers to payments.
Mobile Transactions on the Rise
While agent deposits may have gone down, digital activity through mobile platforms has seen major growth. The value of mobile commerce increased by 6.1% to Ksh.22 trillion, while total mobile money transfers rose by 9.4% to Ksh.8.7 trillion in the same period.
The number of transactions also shot up by 10.6%, crossing the 2.7 billion mark. This shows that more people are relying on digital tools to send and receive money without using agents.
ICT Sector Growth Comes with E-Waste Challenges
The Information and Communication Technology (ICT) industry in Kenya continued to expand in 2024. Its value went up from Ksh.339.5 billion in 2023 to Ksh.364.5 billion. However, this progress brought a downside—electronic waste.
E-waste levels rose to 53.6 thousand metric tonnes from 51.9 thousand the year before, raising concerns about environmental impacts of tech expansion.
Konza Tech Hub Enjoys More Growth
Konza Technopolis is among the winners of the ICT sector’s rise. The innovation city saw its revenue climb to Ksh.252.4 million in 2024, up from Ksh.191.3 million in 2023. It also attracted more investors, growing from 56 to 70 within a year.
These numbers show Konza is steadily positioning itself as a key player in the country’s digital transformation journey.
Economic Outlook Steady but Uneven Globally
The Kenya National Bureau of Statistics expects the world economy to remain generally stable in 2025, forecasting growth at 3.3%. However, the gains might not be evenly shared across regions.
Kenya, on the other hand, is predicted to maintain its stability and resilience, backed by strong digital adoption and sector growth.
