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t is likely that Kenyans will continue their preference for mobile money over debit cards over the next several years. Lafferty forecasts that, by 2018, the annual value of mobile payments will reach $57.7 billion, while total debit card billed volume will amount to $14.6 billion.

By the end of 2015, there were an estimated 27 million mobile money customers in Kenya – in context, the adult population is 25.5 million. The annual value of mobile payments reached $27 billion in 2015 – equivalent to 45.7 percent of Kenya’s GDP – with an average of 41 transactions per customer per annum and an average transaction value of $24.

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