Men Dominate Mobile Money as Women Lag

Kenyan men continue to control most mobile money transactions, exposing a stubborn gender gap despite rising financial inclusion, according to the latest Central Bank of Kenya (CBK) report.

In 2024, men accounted for 61 percent of all mobile money transactions across leading platforms including M-Pesa, Airtel Money and T-Kash, leaving women with just 39 percent of total transaction value.

This equates to men managing Sh5.3 trillion of the Sh8.69 trillion total, while women handled Sh3.3 trillion.The data highlights the persistent influence of men among higher earners in the country.

CBK found that men initiate most transactions and at the same time lead in the amount of money they send. The report further indicates that the average size of women’s transactions was smaller across all platforms, standing at Sh1,034 compared with Sh1,164 for men.

“Analysis of this data reveals that transactions initiated by men on these systems made up the majority of transaction volumes and values,” CBK report reads.

This trend is linked to broader income disparities in Kenya, where men dominate high-paying roles in both government and corporate sectors. In 2023, 247,571 men earned over Sh100,000 monthly, compared to 139,847 women, underscoring the gender imbalance at the top end of the workforce.

Large employers in Kenya have faced criticism for slow progress in reducing pay differences, partly due to fewer women holding management positions.Nonetheless, the number of employees earning above Sh100,000 rose by 4.2 percent in 2024, improving on slower growth seen in 2022.

The CBK report emphasizes that these trends reveal opportunities for mobile money operators to address gender disparities.

“Understanding the underlying causes can help design more inclusive financial products, encouraging higher adoption among women,” the report states.

Mobile money has rapidly transformed financial access in Kenya and across Africa, allowing users to pay bills, order food, cover energy costs and book transport directly via mobile phones. While the gender gap in mobile money is gradually shrinking, disparities persist in banking, insurance and pensions.

The 2024 FinAccess Survey shows that gender differences in mobile money use have narrowed to 1.8 percent from 5.2 percent in 2021. Yet, substantial gaps remain in traditional financial services, pointing to structural challenges that require targeted policies and inclusive programs.

According to CBK, mobile money transaction data is a valuable resource for understanding gender differences in financial behavior and guiding the development of products that can enhance adoption among women.