Kenya’s reputation as Africa’s digital payments powerhouse has not spelled the end for cheques.
Even as mobile money, instant interbank transfers and real-time settlement systems deepen their grip on daily commerce, the humble paper cheque remains a stubbornly relevant part of the country’s financial bloodstream.
Data cited by the Market Cap shows that the value of cheque transactions has remained above $1.55 billion (Sh200 billion) every month since 2014, with the sole exception of 2020, when Covid-19 fears briefly pushed usage lower.
Over the 11 months to November 2025, cheques averaged $1.57 billion (Sh201.44 billion) per month, bringing the total to approximately $17 billion (Sh2.215 trillion).
“For an instrument many consider obsolete, cheques are still moving serious money in Kenya,” Market Cap noted in its analysis.
This persistence stands out in a market dominated by digital rails.
Kenya’s payments ecosystem is anchored by M-PESA, which processes trillions of shillings annually, alongside bank-led mobile apps, card payments, PesaLink instant transfers and the Kenya Electronic Payment and Settlement System, the country’s RTGS platform for large-value transactions.
These systems have transformed retail and wholesale payments, making the East African country a benchmark for the continent.
Yet cheques continue to compete, particularly in high-value business-to-business transactions. Kenya National Police DT Sacco CEO Solomon Angutsa to the Business Daily that personal payments are rapidly shifting to mobile and online channels.
“However, supplier payments, especially for large values, still rely on cheques, often alongside RTGS, with a cheque issued to the settling bank,” he said.
The Central Bank of Kenya (CBK) has resisted calls for an outright phase-out. In its commentary on the National Payments System, the regulator argues that reform, not abolition, is the prudent path.
“Our focus has been on improving efficiency and reducing settlement times while safeguarding financial inclusion,” the CBK has said.
It warned that a rushed exit could exclude businesses and individuals still dependent on paper instruments. Today, cheques in Kenya clear within a day, down from five days in 2011, and are capped at $7,750 (Sh999,999).
Across Africa, the mood is different, with Burkina Faso having ended cheque use in public entities in October 2025.
Zambia will stop accepting them from June 2026, and countries such as Seychelles and Ghana are tightening rules or imposing penalties as they push digital-first agendas.
Share
