Nairobi — Airtel Money users will now be able to send up to Sh500,000 using their accounts after the mobile money company got regulatory approval from the Central Bank of Kenya (CBK) to increase the daily limit.

This will be a sizeable increase from a Sh300,000 ceiling previously.

"We are elated about the CBK's decision as this change will significantly empower our customers and partners by providing them with the flexibility to conduct larger transactions and manage their finances more effectively," Airtel Money (K) Ltd Managing Director Anne Kinuthia-Otieno said.

A higher limit is good for businesses and government agencies, among others, as it will increase transactable amounts thus boosting businesses.

"This is a positive step as it has very positive economic benefits for the Kenyan economy," Kinuthia-Otieno added.

"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."

However, Airtel users will only be able to send a maximum of Sh150,000 at a time.

Only yesterday, Safaricom also increased its limit to Sh500,000 after getting a nod from the CBK.