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Monday, August 14, 2023 –Safaricom company has, today Monday August 14, increased M-PESA daily Transaction limits to sh 500,000; a review that was reached following Central Bank of Kenya CBK recent approval.
This, therefore, means the increase from sh 300,000 to a half a million will see the giant telco enjoy increased number of high-profile clients who had been affected by the low limit that has been in operation for years.
The M-Pesa customers will from Tuesday, August 15, start enjoying transaction up to sh 500,000 per day after the telco increased the daily limit by sh 200,000.
The telco (Safaricom) had made an official request to the CBK to review the current limit upwards; what the regulator has finally given a node.
Speaking on the matter, Safaricom CEO Peter Ndegwa said the increased limits will accord customers, especially small businesses, increased convenience as the share of cashless transactions continues to rise.
“We appreciate the role that the Central Bank of Kenya has played by constantly providing guidance on innovations and protections that we have put in place to strengthen M-PESA’s adherence to KYC, anti-money laundering, and other financial regulations and safeguards,” he said.
This is the second time Safaricom is increasing the transaction limit after the first one was approved in March 2020 from sh 150,000 to sh 300,000.
