Upesi Targets KSh1 Billion in Outbound Transfers With Zero Fee Campaign

Upesi Money Transfer is targeting more than KSh1 billion in outbound transactions through a four-month zero-fee campaign covering eight international payment corridors.

The Kenyan outbound money transfer service said the campaign, which began on September 1 and runs until the end of December 2026, is expected to generate an average of about KSh276 million in transactions each month.

China is projected to account for the largest share, with Upesi expecting transactions worth approximately KSh150 million monthly on the corridor, driven largely by Kenyan businesses sourcing goods and services from the Asian market.

The campaign covers transfers from Kenya to China, Uganda, Rwanda, Tanzania, Ghana, the Philippines, the United Arab Emirates (UAE) and Nigeria.

“Cross-border payments are becoming increasingly important for businesses and individuals as trade and other economic links between Kenya and international markets grow. We want to make these transfers more accessible and affordable by removing fees on selected corridors,” said John Gitau, Head of Treasury at Upesi Money Transfer.

The promotion targets small and medium-sized enterprises, importers, students, investors and families sending money abroad.

Upesi said waiving transfer fees is intended to reduce the cost of international payments while improving convenience for customers, particularly during the festive season when demand for family support, education and business-related payments tends to rise.

The campaign comes amid growing competition in Kenya's outbound payments market as digital money transfer providers seek to challenge traditional channels such as commercial banks and mobile money operators on cost, speed and convenience.

According to the Central Bank of Kenya's Remittances Household Survey 2025, mobile money operators and commercial banks accounted for 87.8 per cent of cash remittance outflows. Mobile money operators handled 47 per cent, while commercial banks accounted for 40.8 per cent.

Fintech platforms accounted for 9.6 per cent of the outflows, while Money Transfer Operators handled 1.2 per cent.

Cost remains a major consideration for Kenyans sending money abroad, with 73.8 per cent of respondents identifying lower transfer costs as the most important improvement needed.

Kenya recorded KSh40.5 billion in outbound remittance outflows between June 2024 and May 2025, comprising KSh36.3 billion in cash and KSh4.3 billion in kind.

The East African Community accounted for KSh7.3 billion, representing 17.9 per cent of total outbound remittances during the period. Uganda received KSh5.25 billion, followed by Tanzania with KSh1.37 billion and Rwanda with KSh170.1 million.

Education accounted for a significant portion of outbound remittances, with students and pupils studying abroad receiving KSh27.7 billion, equivalent to 68.4 per cent of total outbound remittance outflows.

Founded in 2015, Upesi Money Transfer describes itself as a homegrown remittance provider serving customers sending money from Kenya across Africa and other international markets. The company is licensed and regulated by the Central Bank of Kenya.