Kenya: Safaricom Increases M-Pesa's Each Transaction Limit to Sh250,000 After CBK Nod

21 September 2023
Capital FM (Nairobi)
By Kevin Rotich

Nairobi — Safaricom has today increased each transaction on M-Pesa to Sh250,000 from Sh150,000 after getting approval from the Central Bank of Kenya (CBK).

In the new changes, users will enjoy a higher transaction limit under Send Money, Lipa Na M-Pesa Buy Goods, Paybill and other services.

"We welcome the move by the Central Bank of Kenya to increase M-PESA transaction limits to KSh. 250,000," Safaricom CEO Peter Ndegwa said.

"The increased transaction limits are a timely intervention as they will provide customers and businesses with additional convenience when doing business empowering them to do more from their phones," Ndegwa added.

This follows CBK's approval to increase the M-Pesa daily limit to Sh500,000 on August 14, 2023.

The current maximum transaction fees will apply across the new bands, including Sh108 per transaction for Send Money.

Read the original article on Capital FM.

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