The value of mobile money transactions in Kenya has fallen to a 34-month low, reaching Sh633.35 billion in February. This marks the lowest point since April 2023, signaling a significant shift in payment patterns.

• The total value transacted by mobile money agents, including those linked to banks and telecommunications firms, was Sh633.35 billion in February.
• Data is from the Kenya National Bureau of Statistics (KNBS).
• This decline is attributed to a changing payment landscape, increased tax effects, and reduced consumer spending power due to higher statutory deductions, such as the NSSF contributions.