Airtel Money Kenya Ltd has announced it will increasing its daily transaction limit to KES. 500,000 from the current KES. 300,000 following the approval by the Central Bank of Kenya (CBK).
According to Airtel Money, the increase in the daily transaction limit is expected to benefit a wide range of Airtel Money customers including businesses, government agencies, among others. In addition, it will also support the growth of the digital economy in the country.
Mrs Anne Kinuthia Otieno, Managing Director Airtel Money Kenya Ltd has commented on the development stating, “We are elated about the CBK’s decision as this change will significantly empower our customers and partners by providing them with the flexibility to conduct larger transactions and manage their finances more effectively.”
This strategic move aligns with Airtel Money’s commitment to enabling seamless and affordable digital transactions to all Kenyan citizens and businesses. The company recently announced that it has tripled its number of mobile money agents and targets to close at 120,000 agents by the end of 2023.
“This is a positive step as it has very positive economic benefits for the Kenyan economy,” said Anne Kinuthia Otieno, Airtel Money MD. “Businesses can now conduct their more conveniently, efficiently, and consumers can access a wider range of goods and services contributing to economic growth, job creation, and improved financial stability in Kenya.”
The daily transaction limit will increase from the current KES. 300,000 to KES. 500,000. However, the limit per transaction will remain at KES. 150,000 and customers can transact multiple times up to the daily limit of KES. 500,000.
The increase is in effect as from August 15, 2023.