Kenya’s M-PESA smashes revenue record with financial services boom
Safaricom’s mobile money service M-PESA reached a milestone in the first half of its 2027 financial year, posting revenue of KES 100.1 billion (approximately $770 million). This marks the first time the platform has surpassed KES 100 billion in half-year earnings. The increase of 13.6% compared to the same period in the prior year also means M-PESA now contributes 46.3% of Safaricom Kenya’s total service revenue.
The impressive growth highlights M-PESA’s transition from just money transfers to a broader range of services, including merchant payments, business transactions, international payments, and various financial services. Consumer payments led revenue growth, climbing 14% to KES 40.8 billion, while business payments rose 14.7% to KES 31 billion. Financial services saw the most rapid expansion, with revenue jumping 55.3% to KES 7.1 billion. Global payments grew 26.6% to KES 2.8 billion, though withdrawals were the only segment to contract slightly, falling 0.5% to KES 18.4 billion.
Transaction volumes surged alongside revenue. The platform handled 27.4 billion transactions during the period, a 25.2% increase from the previous year, with a total value of KES 23.6 trillion (around $181.6 billion). Revenue-generating transactions, those incurring fees, rose sharply by 48.2% to 12.9 billion, now representing 47% of all transactions, up from 39.7% the year before. The average active user performed 31.5% more chargeable transactions, reaching 50.9 per person.
Business payments, global transfers, and financial services collectively drove 98.9% of the transaction volume growth. Consumer payments alone accounted for roughly 75% of the new revenue. Despite this, over half of all transactions remain free, showing M-PESA still supports extensive low-cost usage.
These results bode well for Safaricom’s fintech division, with revenue on the rise, more customers engaging in chargeable transactions, and financial offerings expanding more rapidly than traditional payment options. The challenge ahead will be to maintain this growth while ensuring that services remain affordable for its vast user base.
Overall, these figures highlight M-PESA’s evolving role within Safaricom, transitioning from a simple mobile money service to a key player in the financial services industry.
