Get ready to keep more of your hard-earned money! In an exciting development for every Kenyan, the Central Bank (CBK) is pushing for a massive 50% reduction in transaction fees on popular mobile money platforms like M-Pesa and Airtel Money. This means the cost of sending money to family, paying for goods, and settling bills could be nearly halved.
Imagine sending Ksh 1,000 to a relative for almost half the price you pay today. This proposed fee cut is designed to put money back into the pockets of consumers and small businesses, making everyday digital transactions significantly more affordable. The CBK’s goal is to ensure that the benefits of technological advancement and increased competition are passed down directly to the users.
This is a win for financial empowerment. Lower transaction costs will encourage even more people to embrace the convenience and safety of cashless payments, from the largest supermarket to the smallest mama mboga stall. It’s a positive step towards making digital financial services a truly low-cost utility for all.
