Kenya lowers mobile money transaction charges in response to coronavirus
The Central Bank of Kenya has issued emergency directives for mobile money use aimed at reducing the handling of cash. This comes after Kenya registered the third case of coronavirus, necessitating a raft of measures for curbing the spread of the disease. Education 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, fees for mobile money transactions below KSh 1000 (USD$10) have been waived. Transactions, as well as daily limits, have also been revised upwards while charges for transfers between mobile money wallets and bank accounts have been eliminated. Two of the country’s mobile network operators, Safaricom and Airtel have implemented the directive.