Kenya

Kenya

General Information

  • Population 53.8m
  • Population 15 + 33.0m
  • Online Population 21.5m
  • Area 580,367 km2
  • Currency KES
  • GDP 99.3bn USD
  • GDP per Capita 2,039 USD
  • 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 56%
  • Middle East & Africa 48%
  • World 67%
Credit card penetration
  • Kenya 6%
  • Middle East & Africa 12%
  • World 19%
Internet penetration
  • Kenya 40%
  • Middle East & Africa 45%
  • World 62%
Smartphone penetration
  • Kenya 43%
  • Middle East & Africa 65%
  • 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.

Kenya’s economy is set to grow by 7.6% in 2021 according to the IMF, and 5.7% in 2022. Meanwhile inflation is set to remain reasonably steady at 5%.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 0.4
2022 0.4
2023 0.5
2024 0.6
E-Commerce spending per capita ($US)
2021 7
2022 8
2023 9
2024 10
E-Commerce spending as % of GDP
2021 0.3
2022 0.3
2023 0.4
2024 0.4

Kenya

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Electrical Goods: 21% | 29%
  2. Health & Beauty: 15% | 24%
  3. Airlines & Hotels: 46% | 19%
  4. Homeware & Furniture: 7% | 10%
  5. Media & Entertainment: 4% | 7%
E-commerce % of total retail
  • Kenya 2%
  • Middle East & Africa 3.0%
  • World 20%
E-commerce completed on a mobile device
  • Kenya 54%
  • Middle East & Africa 53%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
[{"label":"Visa","value":"54"},{"label":"Mastercard","value":"46"}]
  • E-commerce market size ($US billion) 0.3bn USD
  • E-Commerce spending per capita ($US) 6 USD
  • E-commerce spending as % of GDP 0.3%

Kenya

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific + 5 Market relevance High PayPal Type Wallet Regions Asia Pacific + 5 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High PayU Type Bank transfer Regions Asia Pacific + 4 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Airtel Money Type Wallet Regions Asia Pacific, Middle East & Africa Market relevance High Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific + 5 Market relevance High Google Pay Type Wallet Regions Asia Pacific + 5 Market relevance High M-Pesa Type Wallet Regions Middle East & Africa Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 Market relevance High Verve Type Local payment card Regions Middle East & Africa JumiaPay Type Bank transfer Regions Middle East & Africa Market relevance Medium MobiCash Type Wallet Regions Asia Pacific, Middle East & Africa Market relevance Medium MTN Mobile Money Type Wallet Regions Middle East & Africa Market relevance Medium PesaLink Type Bank transfer Regions Middle East & Africa Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific + 5 Market relevance Medium Boloro Type Wallet Regions Asia Pacific + 5 G2A Pay Type Wallet Regions Asia Pacific + 5 NETELLER Type Wallet Regions Asia Pacific + 5 Splitit Type Instalments Regions Asia Pacific + 5

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