Airtel targets SMEs with new business wallet as mobile money competition heats up
Airtel Money has launched a new digital wallet targeting Kenya’s small and medium-sized businesses, betting on value-added financial services to grow its share of the country’s highly competitive mobile money market.
The new Business Wallet allows traders to separate business funds from personal money, monitor daily transactions, generate account statements and transfer funds between business wallets, banks and merchants.
The product also includes protection against unauthorised payment reversals, a common concern among merchants.
Speaking during the launch, Airtel Money acting Managing Director Michael Bonke said the product was designed after feedback from entrepreneurs who increasingly rely on mobile money to run their businesses but struggle to distinguish business income from personal finances.
“Our biggest opportunity lies with small and medium-sized businesses. They need more than a platform to send and receive money—they need tools to help them manage their businesses,” he said.
The wallet comes at no additional registration cost and can be activated through Airtel’s USSD menu using an existing Airtel line. Airtel said customers will also not be charged when making payments into Business Wallet accounts, regardless of the transaction amount, up to the Central Bank of Kenya’s mobile money transaction limit.
The launch forms part of Airtel’s wider push to strengthen its mobile financial services business as it seeks to challenge the dominance of rival platforms.
According to the company, Airtel Money now serves more than six million customers, has expanded its agent network to over 270,000 outlets and provides access to more than two million merchant payment points through partnerships with banks and retailers. The firm said its market share has grown to about 11 percent from below two percent a few years ago, citing Communications Authority data.
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The company also announced changes to its Rudishiwa loyalty programme. Instead of refunding 50 percent of eligible transaction charges as airtime, customers will now receive the cashback directly into their Airtel Money wallets, giving them greater flexibility in how they use the funds. Eligible transactions include person-to-person transfers, paybill and merchant payments.
Airtel Kenya Managing Director Djibril Tobe said Airtel continues to invest in digital infrastructure and financial technology as part of its strategy to deepen financial inclusion and support Kenya’s digital economy.
He cited ongoing investments in Airtel Money systems, a planned hyperscale data centre and future satellite-to-mobile connectivity through a partnership with SpaceX as part of the company’s broader technology roadmap.
