Kenya – preferred payment methods

Kenya

General Information

Population 55.0 m
Population 15 + 34.5 m
Online population 23.3 m
Area 580,367 km²
Currency KES
GDP 109.5 bn $US
GDP per capita 1,991 $US

Card-based payments
Cash-based payments
Other

[{"label":"Card-based payments","value":"25"},{"label":"Cash-based payments","value":"40"},{"label":"Other","value":"35"}]

Banked population

Kenya 58%
Middle East & Africa 46%
World 67%

Credit card penetration

Kenya 7%
Middle East & Africa 8%
World 19%

Internet penetration

Kenya 42%
Middle East & Africa 47%
World 62%

Smartphone penetration

Kenya 47%
Middle East & Africa 43%
World 70%

There are a number of factors at play in explaining why Kenyan e-commerce has taken off. The growth of internet penetration in the country, the uptake in mobile money, and of course the pandemic which pushed consumers online.

During the pandemic new markets were brought together who would normally be excluded. For example Twiga Food, an agricultural supply chain for small farmers, worked with Jumai Kenya to sell their goods directly to consumers.

Kenyans spend on average 53.7% of consumer spending per private household on food and beverages.

The most popular Kenyan e-commerce site in July 2022 was jumia.co.ke with 4.49 m visits.

Future e-commerce trends (2021-2026)

B2C e-commerce ($US billion)

2022 2.4

2023 3.0

2024 3.5

2025 4.2

2026 4.6

E-commerce spending per capita ($US)

2022 43

2023 51

2024 60

2025 69

2026 75

E-commerce spending as % of GDP

2022 2.1%

2023 2.3%

2024 2.5%

2025 2.7%

2026 2.7%

Kenya

The E-Commerce Market

Top e-commerce segments

Electronics & Media: 41%
Fashion: 31%
Furniture & Appliances: 13%
Toys, Hobby & DIY: 8%
Food & Personal Care: 7%

Top cross-border shopping origin markets

UAE
India
China

B2C e-commerce growth 20->21

Kenya 31.9%

E-commerce % of total retail

Kenya 4%
Middle East & Africa 9%
World 20%

E-commerce completed on a mobile device

Kenya 55%
Middle East & Africa 47%
World 53%

The Credit Card Split

Visa
Mastercard

[{"label":"Visa","value":"56"},{"label":"Mastercard","value":"44"}]

E-commerce market size 1.9 bn $US
E-commerce spending per capita 35 $US
E-commerce spending as % of GDP 1.8%

_{The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.}

Kenya

Local Payment Methods

BitPay

Type Cryptocurrency Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet

Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Paysera

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayU

Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 Market relevance High Skrill

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Airtel Money

Type Wallet Regions Asia Pacific, Middle East & Africa Market relevance High Allied Wallet

Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay SecurePay

Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High DaoPay