This archive report was first published on 24 June 2020.
On June 24, 2020, the Central Bank of Kenya (CBK) announced the extension of its COVID-19 emergency measures on mobile money transactions until December 31, 2020.
The measures, which include eliminating charges on transactions of up to Sh1,000, have been effective in facilitating official and personal transfers during the pandemic.
CBK noted a significant increase in the use of mobile money channels by individuals, with over 80% of transactions being low-value transactions of Sh1,000 or less.
As a result, more than 1.6 million additional customers are now using mobile money channels.
According to CBK, the measures will remain in force, with no charge for mobile money transactions of up to Sh1,000 and no charge for transfers between mobile money wallets and bank accounts.
CBK said in a statement, 'Against this backdrop, and pursuant to Regulation 43(2) of the National Payment System Regulations, 2014, CBK has determined that the wallet and transactions limits that were announced on March 16, 2020, will remain in force.'
