Kenya Sees Significant Development in the 2023/2024 Financial Year Amid Rising Mobile and Internet Subscriptions

The Communications Authority of Kenya’s Fourth Quarter Sector Statistics Report for the 2023/2024 financial year highlights significant developments in the country’s telecommunications sector. From April to June 2024, the industry experienced substantial growth, driven by the expansion of telecom infrastructure and the increased adoption of smartphone services. Despite a decline in mobile SIM card uptake in the latter half of 2023, the trend reversed in subsequent quarters, culminating in 68.9 million active mobile subscriptions and a penetration rate of 133.7 percent by June 2024.

Mobile money services also saw an increase, with subscriptions reaching 39.8 million, representing a penetration rate of 77.3 percent. This rise was closely linked to the overall growth in mobile SIM subscriptions. Additionally, the removal of withdrawal codes between M-Pesa and Airtel Money accounts enhanced the seamless transfer of funds, contributing to the increased use of mobile money services.

Fixed internet subscriptions grew by 7.4 percent during the quarter, reaching 1.5 million users. This surge was fueled by the reliance on digital platforms across various sectors and competitive pricing by service providers. Notably, satellite internet subscriptions experienced remarkable growth, with a 1,955.3 percent increase over the year, largely attributed to the introduction of Starlink Internet Services Kenya earlier in the financial year. By June 2024, 96.9 percent of satellite users were subscribed to data speeds ranging from 100 Mbps to 1 Gbps.

The report also noted a slight increase in subscriptions to broadcasting services, which grew by 0.2 percent to reach 6.39 million by the end of June 2024. These trends reflect the ongoing digital transformation in Kenya, with significant growth in both mobile and internet services reshaping the country’s telecommunications landscape.