Key Industry Overview
Kenya has emerged as a regional and world leader in the transformative use of information and communication technologies, one of which is mobile payments. Almost 80% of the population in Kenya uses mobile phones for banking and payments, primarily through the M-Pesa system created by Safaricom – Kenya’s leading mobile network service provider.
Kenya’s mobile penetration rate of 83 subscriptions per 100 inhabitants1 is the 35th highest in the world and set to keep growing. Heavy investment in the ICT sector is planned and the expansion of the mobile phone consumer base will continue, providing opportunities for investors.
The Kenyan government has enshrined development strategies of the ICT sector in the country’s Vision 2030 goals. Campaigns led by the government and the ICT Board to promote more investments in this sector are underway, such as the development of the US$14.5 billion Konza Technology City.
A number of ICT hubs in Kenya have been established to promote the development and use of ICT through co-working, collaboration and incubation services. The iHub, for example, brings together technologists, investors, tech companies and hackers to form an ecosystem of creators and users of mobile technologies.
The presence of MNCs like General Electric, Google, Huawei, IBM, Microsoft and Nokia in Kenya has also boosted the development and confidence in the sector.
Kenya is also seeking to improve e-Government services and build capacity in the public sector. Singapore’s experience in public sector management, and design and implementation of e-Government systems will be relevant for Kenya’s reform agenda.