Airtel Money eats into M-PESA’s dominance in Kenya, doubling market share to 7.6%

Airtel Kenya’s mobile money service, Airtel Money, grew its market share from 2.9% to 7.6% in the year to September 2024. The growth was fuelled by free Airtel-to-Airtel transfers, lower fees than Safaricom’s M-PESA for sending money across networks, and cheaper withdrawal charges. 

Over the same period, M-PESA’s market share declined from 97.0% to 92.3%, with Airtel Money steadily…