• Latest
  • All
  • How To
cbk

Central Bank of Kenya Extends Mobile Money Measures Enforced Due to COVID-19

June 24, 2020
Why Can'y You Register a Safaricom SIM Card After 7 PM

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 2025
DHgate Tablet Cases deals
galaxy z fold7-galaxy z flip7-samsung

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

July 10, 2025
GTA VI

Rockstar May Be Testing 96-Player Servers for GTA 6

July 10, 2025
Former X CEO, Linda Yaccarino

Linda Yaccarino Steps Down as CEO of X After Two Years

July 9, 2025
Apple-WWDC25-iOS-26

iPhone Users Are Not Too Happy With the iOS 26 Liquid Glass Design

July 9, 2025
Official document handover by Bernard Mwonyonyo and Habib Lukaya from Roam.

E-Mobility in Kenya Gets a Lift with New Bike Financing Program

July 9, 2025
Samsung

This Samsung Security Update Could Change How You Use Your Phone

July 9, 2025
tecno ultimate g fold concept

TECNO Joins Tri-Fold Race With Ultimate G Fold Concept Phone

July 10, 2025
Microsoft Edge browser

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

July 8, 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 Extends Mobile Money Measures Enforced Due to COVID-19

Kiruti Itimu by Kiruti Itimu
June 24, 2020
in News
Reading Time: 2 mins read
256
0
cbk

cbk taming rogue lenders

The Central Bank of Kenya has today announced that they will extend the measures they put on mobile money transactions that they announced back in March.

Back in March, the Central Bank of Kenya removed charges for mobile money transactions upto Kshs 1000 and the withdrawal of money between bank accounts and mobile money wallets.

Today they have announced that these emergency measures that were made due to the COVID-19 epidemic will remain in place from July 1st 2020 until December 31st 2020. The deadline for the current system was to expire at the end of the month.

CBK says that in line with this measures:

  • There will be no charge for mobile money transactions upto Kshs 1000
  • The current tarrif for transactions above Kshs 70,000 will remain
  • There will be no charge by Payment Service Providers (PSPs) and commercial banks for transfers between mobile money wallets and bank accounts.

The CBK found out there was a “significant increase” in the use of mobile money channels by individuals. They found out that most of the increase was in low-value transactions of Kshs 1,000 or less, which account for over 80% of mobile money transactions.

They also noted that an additional 1.6 million people are now using mobile money channels, which is quite interesting. However, business related transactions declined marginally, but they did not give more details about that.

The Central Bank implemented these measures 3 months ago to increase the use of mobile money transactions instead of cash. In their own words, they said that these measures were “timely and highly effective in facilitating official and personal transfers at a time of great need.”

The Central Bank was quick to note that they will continue to monitor the implementation of these emergency measures.

Tags: CBK
SendShare146Tweet92
Kiruti Itimu

Kiruti Itimu

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

Related Posts

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

Weak Checks Make Kenyan Digital Lenders Easy Targets for Criminals

July 8, 2025
Unified Payment Interface

CBK’s New Fast Payment System Plan Could Rival M-Pesa

June 24, 2025
kenya-parliament

Parliament Invites Public Feedback on Virtual Asset Bill 2025

May 30, 2025
features of the Kenya's Virtual Asset Bill

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

May 30, 2025
US Dollar to Kenyan Shilling Exchange Rate

US Dollar to Kenyan Shilling Conversion Guide 2025

March 14, 2025
new licensed digital credit providers kenya

Kenya Tightens Grip on Digital Lenders With New CBK Regulations

March 4, 2025

Latest

Why Can'y You Register a Safaricom SIM Card After 7 PM

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025
Former Safaricom Chief Enterprise Business Officer, Cynthia Karuri-Kropac

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025
AI

OpenAI and Perplexity Launch Browsers to Rival Google Chrome

July 10, 2025
Vivo-Y29-4G

Vivo Y29 Launches in Kenya at KES 23,999

July 10, 2025
galaxy z fold7-galaxy z flip7-samsung

Samsung Unveils Galaxy Z Fold7 and Z Flip7 with Bigger Screens

July 10, 2025
GTA VI

Rockstar May Be Testing 96-Player Servers for GTA 6

July 10, 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

Why You Cannot Register a Safaricom SIM Card After 7 PM

July 10, 2025

Frankline Okata Takes Over as Cynthia Karuri-Kropac Exits Safaricom PLC

July 10, 2025

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

Follow Us

Editorials

Abductions and Arrests! Kenyan Government’s Fear and Hate of X Users Makes No Sense

Actors and Film Crews Are Worried About Veo 3 Taking Their Jobs

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

More News

Linda Yaccarino Steps Down as CEO of X After Two Years

iPhone Users Are Not Too Happy With the iOS 26 Liquid Glass Design

E-Mobility in Kenya Gets a Lift with New Bike Financing Program

This Samsung Security Update Could Change How You Use Your Phone

TECNO Joins Tri-Fold Race With Ultimate G Fold Concept Phone

Microsoft Makes Edge 40% Faster in a Bid to Lure Chrome Users

  • 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.
.