NAIROBI, Kenya — The number of foreign exchange bureaus in Garissa increased by 300 per cent in 2025, rising from one outlet to four as demand for foreign currency services grew across the country.
According to the Central Bank of Kenya (CBK), the increase raised Garissa’s share of Kenya’s forex bureau market to 2.1 per cent, up from 0.6 per cent in 2024.
Garissa Records Sharpest Percentage Growth
Garissa recorded the largest percentage increase in the number of forex bureaus during the year, although the county still has far fewer outlets than Kenya’s major commercial centres.
The expansion reflects growing demand for foreign exchange services, including transactions involving traders, travellers and individuals seeking foreign currencies such as the US dollar.
CBK reported the figures in its 2025 Bank Supervision Annual Report.
Mombasa Adds Five Forex Bureaus
Mombasa recorded the second-largest increase in percentage terms, adding five forex bureaus during the year.
The number of outlets in the coastal city rose from 10 to 15, representing a 50 per cent increase.
Mombasa’s share of the national forex bureau market consequently increased from 6.1 per cent to 8 per cent.
The growth comes as the city continues to serve as a major tourism, trade and transport hub, generating demand for foreign currency services.
Nairobi Dominates Forex Bureau Market
Nairobi remained by far the largest market for forex bureaus, recording the biggest increase in absolute numbers.
The capital added 14 outlets, with the number rising from 143 to 157, a 9.7 per cent increase.
Nairobi accounted for 83.5 per cent of Kenya’s forex bureaus in 2025, underlining the concentration of foreign exchange services in the country’s commercial and financial hub.
CBK attributed the increase in outlets, particularly in Nairobi, to rising demand for foreign exchange services.
Demand Driven by Traders and Travellers
CBK linked the growing demand for foreign currency to transactions by traders and travellers, as well as individuals seeking foreign currencies.
The US dollar remains one of the key currencies sought through foreign exchange services, particularly for international travel and cross-border transactions.
The expansion of forex bureaus outside Nairobi, including the sharp increase recorded in Garissa, points to a wider geographical spread of demand for foreign currency services.
