Airtel Money Kenya Ltd has received approval from the Central Bank of Kenya (CBK) to increase daily transaction limit for its customers from the current Ksh300,000 to Ksh500,000 effective 15th August, 2023.
Mrs Anne Kinuthia Otieno, Managing Director Airtel Money (K) Ltd said CBK’s decision will significantly empower customers and partners by providing them with the flexibility to conduct larger transactions and manage their finances more effectively.
The increase in the daily transaction limit is expected to benefit a wide range of Airtel Money customers, including businesses, government agencies, among others. It will also support the growth of the digital economy in Kenya. This comes a day after Safaricom got a similar approval for its M-Pesa money transfer service.
“This is a positive step as it has very positive economic benefits for the Kenyan economy,” said Mrs Anne Kinuthia-Otieno. “Businesses can now conduct their operations more conveniently, efficiently, and consumers can access a wider range of goods and services contributing to economic growth, job creation, and improved financial stability in Kenya.”
This strategic move aligns with Airtel Money’s commitment to enabling seamless and afforable digital transactions to all Kenyan citizens and businesses. The company recently announced that it has tripled its number of mobile money agents and targets to close at 120,000 agents by the end of 2023.
While daily transaction limit increases from the current Ksh300,000 to Ksh500,000, the limit per transaction will remain at Ksh150,000 and customers can transact multiple times up to the limit of Ksh500,000 daily.