• Latest
  • All
  • How To
mpesa

Central Bank of Kenya Allows Safaricom to Double MPESA Transaction Limits

March 16, 2020
Microsoft Recall

Signal Blocks Microsoft Recall Feature to Protect Private Chats

May 22, 2025
Infinix XPad GT

The Infinix XPad GT Gaming Tablet Makes Its Debut at $400

May 22, 2025
Passport Application

How to Apply for a Kenyan Passport Online in 2025: A Complete Guide

May 22, 2025
google-chrome

Google Chrome Will Start Automatically Replacing Your Weak Passwords

May 22, 2025
DHgate Tablet Cases deals
telegram

Telegram Posts $540m Profit Despite Founder’s Legal Hurdles

May 22, 2025
ID Checks May Soon Be Required for Social Media in Kenya

ID Checks May Soon Be Required for Social Media in Kenya

May 21, 2025
Safaricom launches revamped business loans

Safaricom Unveils Business Credit via M-PESA and Pochi Wallets

May 21, 2025
huwaei-matebook-x-fold

Huawei Debuts Foldable Laptop Running on HarmonyOS 5

May 21, 2025
google-meet

Google Meet Brings Real-Time Language Translation with Gemini

May 21, 2025
NSSF Hacking Claims Disputed: Fund Says No Member Data Compromised

NSSF Denies Allegations of Massive 2.5TB Data Breach

May 21, 2025
Google I/O 2025

Google I/O 2025 Highlights: Gemini, XR Glasses & Project Astra

May 21, 2025
Tanzania Blocks X, Arrests Opposition Leaders

X (Twitter) Goes Dark in Tanzania

May 21, 2025
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
  • News
  • Entertainment
  • Reviews
  • Features
  • Editorial
No Result
View All Result
Techweez | Tech News, Reviews, Deals, Tips and How To
No Result
View All Result

Central Bank of Kenya Allows Safaricom to Double MPESA Transaction Limits

Kiruti Itimu by Kiruti Itimu
March 16, 2020
in News
Reading Time: 2 mins read
259
0
mpesa

Lipa Na MPESA

Today, Safaricom has announced that they have waived MPESA fees for person to person transactions below Kshs 1000 due to the coronavirus pandemic.

This was a great move since it meant that there will be no need to carry physical cash to buy products that would warrant close contact between people.

Safaricom had also thought about the business side of things and they inked an interesting deal with the regulator, the Central Bank of Kenya.

Regarding SME’s, the Central Bank of Kenya has approved the increase of MPESA transaction limits from the current Kshs 70,000 to Kshs 150,000. Kenyans will also be able to transact up to Kshs 300,000 up from the current limit of Kshs 140,000 and hold up to Kshs 300,000 in their MPESA wallets.

This deal is interesting since this was a regulatory hurdle that Safaricom wanted to be lifted for MPESA. In 2018, the company wanted the Kshs 140,000 daily MPESA limit be increased.

According to a Business Daily article from 2018, the telco was in talks with the CBK to double the daily limit owing to the rapid evolution of the mobile money platform from person to person payments and being an e-commerce tool.

A lot of money is moved on MPESA every quarter. As per the latest Sector Statistics from the Communications Authority, Kshs 1.7 trillion was moved on MPESA between July and September this month. People move a lot of money on MPESA and it was high time the transaction limits were increased.

Well, it has taken the global COVID-19 pandemic to make this a reality.

UPDATE

The Central Bank of Kenya has issued a press release about their emergency measures to facilitate mobile money transactions.

Press release: Emergency Measures to Facilitate Mobile Money Transactions pic.twitter.com/py6FIsvYdH

— Central Bank of Kenya (@CBKKenya) March 16, 2020

The above measures apply to all mobile money platforms and will be effected from midnight March 16, 2020 until June 30, 2020.

They have also announced that they have eliminated charges for transfers between mobile money wallets and bank accounts.

Tags: CBKM-Pesa
SendShare147Tweet92
Kiruti Itimu

Kiruti Itimu

Culture Editor. Covers the intersection of Tech, Social Media and Web Culture. Tech enthusiast [email protected]

Related Posts

Safaricom launches revamped business loans

Safaricom Unveils Business Credit via M-PESA and Pochi Wallets

May 21, 2025
Linking PayPal to M-pesa

How to Withdraw Money from PayPal to M-PESA in Kenya

May 12, 2025
Safaricom

Safaricom Breaks Barriers with $3B Milestone and Bold Ethiopia Play

May 9, 2025
Emerald PostPay

Safaricom Transitions Customers to New Emerald PostPay Plans

May 6, 2025
features of the Kenya's Virtual Asset Bill

Kenya Moves to Regulate Crypto Industry with the Virtual Asset Bill 2025

April 8, 2025
Report on Mobile money industry in kenya

Kenya’s GDP Per Capita Up $460, Thanks to Mobile Money

April 1, 2025

Latest

Microsoft Recall

Signal Blocks Microsoft Recall Feature to Protect Private Chats

May 22, 2025
Infinix XPad GT

The Infinix XPad GT Gaming Tablet Makes Its Debut at $400

May 22, 2025
Passport Application

How to Apply for a Kenyan Passport Online in 2025: A Complete Guide

May 22, 2025
google-chrome

Google Chrome Will Start Automatically Replacing Your Weak Passwords

May 22, 2025
telegram

Telegram Posts $540m Profit Despite Founder’s Legal Hurdles

May 22, 2025
ID Checks May Soon Be Required for Social Media in Kenya

ID Checks May Soon Be Required for Social Media in Kenya

May 21, 2025

Best devices

budget smartwatches 2025

Best Budget Smartwatches To Buy in Kenya 2025

February 13, 2025

Best Infinix Smartphones To Buy in Kenya 2024

February 13, 2025

Best Laptops for Battery Life in 2024

August 21, 2024

Best “Battery Warrior” Smartphones To Buy in 2024

August 22, 2024

Signal Blocks Microsoft Recall Feature to Protect Private Chats

May 22, 2025

The Infinix XPad GT Gaming Tablet Makes Its Debut at $400

May 22, 2025

Techweez is a fast growing influential source of technology news, reviews and analysis by leading tech geeks in the industry.

Follow Us

Editorials

Samsung QLED TVs Now Officially Certified for Real Quantum Dot Technology

Trump’s Tariffs Will Be the End of Affordable Tech

5 Ways to Prep Your Tech for Resale

The Weaponization of PDFs: How Cybercriminals Are Exploiting a Trusted Format

Introducing A Brainbox Quiz: Techweez’s Monthly Trivia Night!

5 Most Reliable Virtual Dollar Card Providers in Nigeria

More News

Safaricom Unveils Business Credit via M-PESA and Pochi Wallets

Huawei Debuts Foldable Laptop Running on HarmonyOS 5

Google Meet Brings Real-Time Language Translation with Gemini

NSSF Denies Allegations of Massive 2.5TB Data Breach

Google I/O 2025 Highlights: Gemini, XR Glasses & Project Astra

X (Twitter) Goes Dark in Tanzania

  • Terms Of Use
  • Techweez Brand
  • Privacy & Policy
  • Contact Us

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!

Hey there! Just a heads-up: we're big fans of cookies - both the digital and edible kind! 🍪 We use our cookies and some from third parties to ensure your browsing experience on our site is smooth sailing and secure.

 

But wait, there's more! We also use cookies to gather stats and insights on how you navigate our site. It's like getting a behind-the-scenes peek at your digital adventures!

 

Don't worry, you're in control. You can adjust your cookie settings anytime to suit your preferences. Feeling curious? Dive into our Privacy Policy for all the juicy details. Happy browsing! 🚀

Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
Techweez | Tech News, Reviews, Deals, Tips and How To
Crunchy Cookies 🍪 Ahead!
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
Listen, this legal stuff is about as exciting as watching paint dry. But it basically says we only use your stuff for what you asked us to do, and nobody else gets to peek!
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
It's those sneaky cookie crumbs websites leave behind to count visitors, like counting ants at a picnic! Totally harmless, just for fun facts. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
Hey there! Just letting you know we use some fancy gizmos to remember your preferences. This way, we can show you ads that are, well, not completely bananas.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Make cookies
{title} {title} {title}
No Result
View All Result
  • News
  • Reviews
  • Features
  • Editorial
  • Automotive
  • Entertainment

© 2024 Techweez - Palahala Media Group may earn a commission when you buy through links on our sites.
A Palahala Media Group Brand. All rights reserved.
.