While Kenya continues to record strong growth in financial inclusion, a new report highlights that men continue to dominate mobile money transactions, both in volume and value, leaving women trailing. Despite steady gains in access to digital financial services, women remain on the lower end of the usage spectrum.
Data for 2024 indicates that men executed 61 per cent of all transactions on M-Pesa, Airtel Money, and T-Kash combined, while women accounted for only 39 per cent. This translates to Ksh5.3 trillion of the Ksh8.69 trillion processed through mobile money platforms that year, with men handling it, compared to Ksh3.3 trillion transacted by women. According to analysts, the figures reflect the broader earnings divide, with men retaining the lion’s share of high-income positions both in the private and public sectors.
According to the latest Central Bank of Kenya (CBK) report, “Three instant payment services (IPS), including Kenya Mobile Money, provided gender-disaggregated data for 2024. Analysis of this data reveals that transactions initiated by men on these systems made up the majority of transaction volumes and values.”
CBK further states that, “The average transaction size of women’s transactions was also lower than men’s across all three systems.”
The average women’s transaction size was Ksh1,034.24 in 2024, against that of their male counterparts, which stood at Ksh1,163.52. Experts say the gap is symptomatic of the underlying income disparity. For example, in 2023, 247,571 men made more than Ksh100,000 per month, while only 139,847 women could attain this, showing the gender imbalance in well-paying jobs.
Despite legal protections outlawing gender discrimination, the pay gap remains a stubborn challenge. Major employers continue to face criticism for slow progress in advancing women to senior leadership positions. Despite this, however, the number of Kenyans earning more than Ksh100,000 per month grew by 4.2 per cent in 2024, signaling a modest improvement in wage distribution.
The CBK believes the gaps represent an important learning point for financial service providers.
“These findings highlight a gender gap in usage and present an important opportunity for IPS operators to investigate the underlying causes. By understanding these disparities, systems can be better tailored through inclusive product design to support greater adoption among women,” the report notes.
While inequalities exist elsewhere, mobile money is the area where the gender gap is narrowing most quickly. According to the 2024 FinAccess Survey, the gap in mobile money usage dropped to 1.8 percent from 5.2 percent in 2021. However, there are still major differences in banking, pension, and insurance that indicate systemic barriers limiting women’s access to broader financial services.
CBK adds that mobile money data offers a critical window into financial behaviour that helps stakeholders design the tools and policies that can advance gender-inclusive finance in Kenya.
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