Safaricom, Kenya’s leading telecommunications company, has announced an increase in the transaction limit for its popular mobile money service, M-Pesa. The new limit has been raised to Ksh. 250,000, up from the previous limit of Ksh. 150,000, following approval by the Central Bank of Kenya.
This development includes the introduction of a new transaction band, allowing users to transact between Ksh. 151,000 and Ksh. 250,000 for various M-Pesa services such as Send Money, Lipa Na M-PESA BuyGoods, PayBill, and other financial transactions.
Safaricom’s CEO, Peter Ndegwa, expressed his enthusiasm for this approval and highlighted how it would enhance convenience for both individual users and businesses.
He stated, “We welcome the move by the Central Bank of Kenya to increase M-PESA transaction limits to KSh. 250,000. 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.”
This increase in the M-Pesa transaction limit is part of Safaricom’s ongoing efforts to meet the evolving financial needs of its customers.
It comes on the heels of a similar approval from the Central Bank of Kenya to raise the daily M-Pesa transaction limit to Ksh. 500,000, making mobile money an even more versatile and accessible financial tool for users across the country.