Mobile internet connectivity has greatly improved in the past 10 years, with 3G networks covering 99% of the population in 2023 and 4G coverage at 98%, with a significant percentage of 3G subscribers have already migrated to 4G.
5G networks covered 6% of the population in 2023 and it is expected that 13% will be covered by the end of 2024 and reaching 99% in 2030 – supporting the vision of Kenya as a regional technology hub.
Kenya is arguably a leader in mobile money services, with a mature market contributing to high levels of financial inclusion compared to peers.
Mobile money account ownership surpassed traditional financial institution accounts already in 2014 and accounted for 70% of the adult population in 2021.
Mobile is
increasingly being used as the preferred savings
method, with 24% of adults saving through mobile
money in 2021.