Safaricom’s M-PESA decline continues as Airtel Money gains

M-PESA, Safaricom’s mobile money service, has declined for the fifth consecutive quarter, weighed down by increased interoperability and Airtel Money’s aggressive promotions, including transaction fee refunds as airtime. 

M-PESA’s market share fell by 2.3 percentage points to 91% in Q4 2024 compared to Q3, while Airtel Money grew from 7.6% to 8.9% in the same period, according to data from…