Formal & Mobile Money Savings Statistics in Kenya (2026)
In 2024, 54.4% of adults in Kenya saved at a formal financial institution or using a mobile money account, according to World Bank Global Findex data. Up from 45% in 2021 to 54.4% in 2024 (+9.4 percentage points). Kenya ranks #3 of 36 economies in Sub-Saharan Africa on this measure, and #28 of 142 globally.
Key Statistics
- Latest value (2024)
- 54.4% (2024)
- Formal & Mobile Money Savings in Kenya as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- +9.4 pp (2024)
- Up from 45% in 2021 to 54.4% in 2024 (+9.4 percentage points).
- Earliest value in this dataset (2011)
- 23.3% (2011)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 23.3% in 2011 to 54.4% in 2024.
- Record high (2024)
- 54.4% (2024)
- The 2024 value is the highest in the available World Bank Global Findex series for Kenya.
- Rank in Sub-Saharan Africa
- #3 of 36 (2024)
- Kenya ranks 3 of 36 countries in Sub-Saharan Africa with data, based on each country's latest value.
- Global rank
- #28 of 142 (2024)
- Kenya ranks 28 of 142 countries with data globally.
- Sub-Saharan Africa average
- 30.8% (2024)
- Kenya (54.4%) is above the average of 30.8% across the 36 countries in Sub-Saharan Africa with data.
- Saved at a bank or similar financial institution (% age 15+) (2024)
- 20.1% (2024)
- Related indicator from World Bank Global Findex.
- Internet use in Kenya (2024)
- 35% (2024)
- 35% of the population in Kenya used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 56.4 million (2024)
- Kenya had a population of 56.4 million in 2024 (World Bank); shown for scale only.
Trend, 2011–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 54.4% | +9.4 pp |
| 2021 | 45% | +18.2 pp |
| 2017 | 26.8% | −3.4 pp |
| 2014 | 30.2% | +6.9 pp |
| 2011 | 23.3% | — |
Frequently asked questions
What share of adults in Kenya saved at a formal financial institution or using a mobile money account?
54.4% of adults in Kenya saved at a formal financial institution or using a mobile money account in 2024, according to World Bank Global Findex data.
How has formal & mobile money savings in Kenya changed over time?
World Bank Global Findex data show a rise from 23.3% in 2011 to 54.4% in 2024.
How does Kenya compare with other countries in Sub-Saharan Africa?
Kenya ranks 3 of 36 countries in Sub-Saharan Africa with data, with 54.4% versus a regional average of 30.8% (latest values per country).
Where does Kenya rank globally on formal & mobile money savings?
Kenya ranks 28 of 142 countries with data globally, based on the latest World Bank Global Findex value for each country.
How recent is the formal & mobile money savings data for Kenya?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Kenya.
Source & methodology
Source: World Bank Global Findex, indicator
fin17a.17a1.d, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .