Mobile Banking Usage Grew to Over 34% in 2021, Says Central Bank of Kenya

The covid 19 pandemic pushed Kenya’s mobile banking usage from 25.3% in 2019 to 34.4% in 2021.

This is according to a survey report by the country’s Central Bank of Kenya (CBK) in collaboration with the Kenya National Bureau of Statistics (KNBS) and Financial Sector Deepening Trust (FSD) Kenya.

The report also pointed out the declined usage of physical bank services – with only people above 55 years old registering expanded use of brick and mortar banking.

According to the report, those who used physical bank branches declined from 29.6 % in 2019 to 23.8% in 2021.

The overall usage of traditional bank accounts declined from 29.6% in 2019 to 23.8% in 2021.


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On the other hand, mobile banking was found to have increased access to banking services to 44.1 percent in 2021 from 40.8 percent in 2019.

According to the report, mobile banking apps were the main channels used to access and use banking services in 2021 across all the demographics analyzed.

The Survey results also indicate that 72.4% mobile banking users and 48.4 % of mobile money users experienced episodes of not being able transact at one point in time due to system down times and outages by providers in 12 months preceding the Survey.


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