Kenya witnesses rise in cryptocurrency use
(MENAFN) Kenya, known as a leader in African tech and innovation, is now seeing a rising wave of cryptocurrency use, particularly in its urban areas. While mobile money remains the primary form of financial transaction across much of the country, Bitcoin is increasingly being adopted by young, tech-savvy Kenyans.
A 2022 United Nations report ranked Kenya as Africa’s top crypto market, with about four million people owning digital currencies. The sector is projected to grow by 4% by the end of 2025.
Brian Omondi, a 26-year-old business graduate who runs an electronics and gaming shop in Nairobi’s Kibera slum, began accepting Bitcoin payments in 2022. He says the digital currency is more efficient than mobile money because transactions are secure, instant, and irreversible.
Most of Omondi’s customers are young Kenyans and college students who are already comfortable with digital tools. He notes that Bitcoin eliminates the need for visiting agents or dealing with transaction fees and bureaucracy—just a smartphone and internet connection are enough.
Bitcoin has also helped Omondi streamline international purchases from Chinese suppliers who accept crypto, avoiding currency exchange issues and delays tied to traditional banking. “It saves me time and money, and I get my inventory quicker,” he says.
For many young people in Kenya’s cities, Bitcoin is becoming a practical alternative to conventional banking, which is often inaccessible due to unemployment. The shift is supported by high smartphone adoption, fast-growing internet access, and a digital-first culture.
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