Airtel Money Kenya Ltd has received approval from the Central Bank of Kenya (CBK) to increase the daily transaction limit for its customers from the current Kshs 300,000 to Kshs 500,000 effective August 15, 2023.
Even though, the limit per transaction remains at Kshs 150,000, customers can transact multiple times up to the limit of Kshs 500,000 daily.
Airtel Money (K) Ltd, Managing Director, Anne Kinuthia–Otieno, expressed her enthusiasm for the development, stating: “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.”
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 is a positive step as it has very positive economic benefits for the Kenyan economy. Businesses can now conduct their operations more conveniently, efficiently, and consumers can access a widerrange of goods and services contributing to economic growth, job creation, and improved financial stability in Kenya,” said the Airtel Money Managing Director.
She said the strategic decision by CBK aligns with Airtel Money’s commitment to enabling seamless and affordable digital transactions to all Kenyan citizensand businesses.
The company recently announced that it has tripled its number of mobile money agents and targets to close at120,000 agents by the end of 2023.