Kenya lowers mobile money transaction charges in response to Corona
The Central Bank of Kenya has issued emergency directives for mobile money use aimed at reducing handling of cash. This comes after Kenya registered the third case of Corona virus, necessitating a raft of measures for curbing the spread of the disease. Learning as well as social gatherings were suspended, while banks and telecom companies were asked to take measures to facilitate cashless transactions. Under the Central Bank directive, transaction fees for mobile money transactions of below Ksh. 1000 (USD 10) have been waived. Transaction, as well as daily limits, have also been revised upwards while charges for transfers between mobile money wallets and bank accounts have been eliminated. The country’s largest mobile network operator, Safaricom, effected the directive immediately.