Upesi Targets KES1 Billion in International Transfers with Zero-Fee Campaign
By Staff Reporter
Nairobi, September 28,2026 – Upesi, a Kenyan outbound money transfer service, is targeting more than KES1 billion in transactions through a four-month zero-fee campaign covering eight international payment corridors, as it seeks to make cross-border transfers more affordable for businesses, students and families.
The campaign, which began on September 1 and runs until the end of 2026, is expected to generate an average of KES276 million in monthly transactions. China is projected to account for approximately KES150 million each month, driven by growing business links between Kenya and the Asian market, particularly payments by local businesses sourcing goods and services from China.
The initiative covers transfers from Kenya to China, Uganda, Rwanda, Tanzania, Ghana, the Philippines, the United Arab Emirates (UAE) and Nigeria.
John Gitau, Head of Treasury at Upesi Money Transfer, said the campaign seeks to ease the cost of sending money abroad as trade and economic relationships between Kenya and international markets continue to expand.
“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,” Gitau said.
The campaign targets small and medium-sized enterprises, importers, students, investors and families making payments abroad. By waiving transfer fees, Upesi hopes to offer customers a more cost-effective way to send money, particularly during the festive season, when payments for family support, education and business needs tend to rise.
The move comes as digital payment providers expand their presence in Kenya’s outbound transfers market, intensifying competition with commercial banks and mobile money operators over transaction costs, speed and convenience.
Data from the Central Bank of Kenya’s Remittances Household Survey 2025 highlights the significant role played by traditional financial institutions in the market. Mobile money operators and commercial banks accounted for 87.8 per cent of cash remittance outflows, with mobile money handling 47 per cent and commercial banks 40.8 per cent. Fintech platforms accounted for 9.6 per cent, while money transfer operators handled 1.2 per cent.
However, the survey also points to the importance of affordability for customers. Lower transfer costs were identified by 73.8 per cent of respondents as the most important improvement needed in international money transfers, underscoring the demand for more affordable payment options.
Kenya recorded KES40.5 billion in outbound remittance outflows between June 2024 and May 2025. Of this amount, KES36.3 billion was sent in cash, while KES4.3 billion was transferred in kind.
The East African Community accounted for KES7.3 billion, representing 17.9 per cent of total outbound remittances during the period. Uganda received KES5.25 billion, followed by Tanzania with KES1.37 billion and Rwanda with KES170.1 million.
Education also emerged as a major driver of outbound payments. Students and pupils studying abroad received KES27.7 billion, equivalent to 68.4 per cent of total outbound remittance outflows.
Against this backdrop, Upesi’s campaign seeks to tap into demand for affordable international transfers while positioning the service to serve individuals and businesses making payments across its eight selected corridors.
