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Kenya Country Report

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  • Published Date: December 2017

A comprehensive overview of the cards, payments and consumer banking market in Kenya.


  • There has been very strong growth in banking assets since 2009, increasing from $12.6 billion to an estimated $36.7 billion in 2017.
  • The Central Bank of Kenya (CBK) passed a regulation in August 2016 capping, at four per cent above the benchmark interest rate, the maximum interest rate charged by the banks for a credit facility.
  • Credit cards are not popular in Kenya; credit card penetration stood at an estimated one card per 100 adults in 2017.
  • The payment cards market in the country is dominated by debit cards, which accounted for 91 per cent of all payment cards in issue at the end of 2017.
  • The fact that one in every ten mobile money transactions carried out in the world takes place in Kenya gives an indication of the significance of mobile money in this market.
  • The average adult in Kenya made 57 mobile money transactions in 2016 compared to just eight card transactions.
  • Visa dominates the Kenyan credit cards market, with an estimated market share of 90 per cent of cards in issue at the end of 2017.
  • At the end of 2017, there were an estimated 15 million Visa-branded debit cards in issue in Kenya, representing a share of 95 per cent.
  • Barclays Kenya and the Co-operative Bank of Kenya (COBK) are the leading credit card issuers in Kenya. They had an estimated market share of 44 per cent and 27 per cent respectively in 2017.
  • New POS installations make use of GPRS mobile data technology and reduce downtime, compared to older, landline-based systems. This has helped boost merchant and consumer confidence in payment cards and supported growth in the number of merchant acceptance points.

Kenya Country Report Table of Contents

Research topics
The economy
Retail banking
Consumer finance market
Cards market
Profit pool
Pricing and enhancements
The networks: credit cards
The networks: debit cards
Merchant acquiring and processing
Online acquiring
Regulatory and other cards market information

Appendix I: Demographics

  • Population metrics
  • Ownership of key consumer goods
  • Internet usage by population

Appendix II: The economy

  • Major economic indicators

Appendix III: Retail banking

  • Major retail banking indicators
  • Banking/infrastructure penetration
  • Retail banks key metrics
  • Retail banks profit & loss metrics

Appendix IV: Consumer finance market

  • Consumer credit outstandings and indebtedness
  • Consumer credit outstandings by product

Appendix V: Cards market

  • Credit card numbers
  • Total credit card metrics
  • Consumer credit cards metrics
  • Commercial credit cards metrics
  • Credit cards profitability Indicators
  • Debit card numbers
  • Debit cards metrics

Appendix VI: E-money

  • Prepaid/e-money cards metrics
  • Mobile money metrics

Appendix VII: Profit pool

  • Profit pool

Appendix VIII: Pricing and enhancements

  • Card pricing and enhancements

Appendix IX: The networks: credit cards

  • Networks' credit card market shares
  • Networks' credit card numbers
  • Networks' credit card billed volume
  • Networks' number of credit card transactions
  • Networks' average credit card transaction value
  • Credit card interchange fees by network

Appendix X: The networks: debit cards

  • Networks' debit card market shares
  • Networks' debit card numbers
  • Networks' debit card billed volume
  • Networks' number of debit card transactions
  • Networks' average debit card transaction value

Appendix XI: Card issuers

  • Key credit card issuers market shares by credit card numbers
  • Key issuers market shares in credit card outstandings
  • Key debit card Issuers market shares by debit card numbers
  • Mobile money issuers: market share of subscriptions and agents
  • Mobile money issuers: market share of mobile commerce and P2P transfers

Appendix XII: Merchant acquiring and processing

  • Merchant acquirer credit card market share
  • Credit card merchant service charges
  • Merchant acquirer debit card market share
  • Debit card merchant service charges
  • Credit card issuer/issuing processor relationships
  • Credit card acquirer/acquiring processor relationships
  • Credit card issuing processor market shares by card numbers
  • Credit card acquiring processor market shares by the number of POS transactions

Appendix XIII: Online acquiring

  • Online merchant acquirer market share


Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Africa. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and Africa finance experts.

See more Africa Country Reports or explore the full range of cards and payments reports available for 72 markets worldwide.

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