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Airtel Money customers can now enjoy an expanded financial scope, as the mobile money provider has received regulatory approval from the Central Bank of Kenya (CBK) to increase its daily transaction limit. Users will now be able to send up to Sh500,000 through their accounts, marking a notable rise from the previous ceiling of Sh300,000.
Anne Kinuthia-Otieno, Managing Director of Airtel Money (K) Ltd, expressed enthusiasm about the CBK’s decision, emphasizing the positive impact this change will have on customers and partners. The enhanced limit will provide users with the flexibility to conduct larger transactions, thereby enabling more effective management of their finances.
This increase in transaction limit is particularly beneficial for businesses, government agencies, and various stakeholders, as it facilitates higher transactable amounts and contributes to bolstering commercial activities.
Anne Kinuthia-Otieno remarked, “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 wider range of goods and services contributing to economic growth, job creation, and improved financial stability in Kenya.”
However, it’s worth noting that Airtel users will still be restricted to sending a maximum of Sh150,000 per individual transaction.
Interestingly, just recently, Safaricom also received approval from the CBK to elevate its limit to Sh500,000, underlining a trend towards increased transaction ceilings in the mobile money sector.
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