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Rising agent numbers cut average M-Pesa commissions to record low
An M-pesa agent serves a customer. Agents, once buoyed by strong margins from deposits, withdrawals and airtime sales, are increasingly finding these revenue streams insufficient to sustain operations.
Average annual commissions earned by M-Pesa agents have dropped to a record low of Sh112,244 in the year ended March 2026 as increased competition squeezes returns, pushing them to seek additional income through rival services such as agency banking and Airtel Money.
The latest figure, which is equivalent to Sh9,353 per month, marked a drop from Sh124,720 in 2025 and Sh144,355 in 2024, with the estimates inferred from the number of agents and total commissions paid out by Safaricom.
