BY.PHILES ISABOKE
Central Bank of Kenya wants to slash and cap transaction fees for M-Pesa and Airtel Money. In its National Financial Inclusion Strategy, CBK wants average cost per transaction reduced from current Sh23 to Sh10 by 2028. b16c
CBK says mobile money access rose from 27% in 2006 to 82.3% in 2024 but growth is plateauing due to high costs. Safaricom currently charges Sh13 for Sh501-1000 transfer and Sh108 for Sh50k-250k.
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