Safaricom waives fees for M-Pesa transactions in wake of Covid-19

29755155584 9320acd4ce cKenyan mobile network operator Safaricom has announced that it will waive fees on its mobile money transfer service M-Pesa for transactions below US$10

The Central Bank of Kenya Governor Dr Patrick Njoroge hosted a meeting with Safaricom and other industry players to discuss the evolving situation around the COVID-19 (Corona Virus) pandemic.

The meeting follows the directive by President Uhuru Kenyatta to explore ways of deepening mobile money usage to reduce the risk of spreading the virus through the physical handling of cash.

The president also directed the banks to consider reducing the cost of using mobile money during this period.

In the meeting, it was agreed that all person-to-person transactions below US$10 shall be free over the next 90 days.

To support this, and in particular small and micro business enterprises (SMEs), CBK has also approved the increase of daily M-Pesa transaction limits from the current US$700 to US$1500.

Kenyans will also be able to transact up to US$3000 up from the current limit of US$1400 and hold up to US$3000 in their M-Pesa wallets.

Safaricom is also working with the government by providing a call centre and integrating a toll-free line 719 which has been set up by the National Emergency Response Committee on Coronavirus to support Kenyans in understanding how to prevent and manage suspected cases.

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