Airtel Money has increased the daily transaction limit for its customers from the current Kes 300,000 to Kes 500,000 effective August 15, 2023.
The telco says the move was after received approval from the Central Bank of Kenya (CBK). Safaricom announced the move yesterday.
Mrs Anne Kinuthia-Otieno, Managing Director Airtel Money (K) Ltd, 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,” said Anne Kinuthia-Otieno, Airtel Money Managing Director. “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.”
This strategic move aligns with Airtel Money’s commitment to enabling seamless and affordable digital transactions to all Kenyan citizens and businesses. The company recently announced that it has tripled its number of mobile money agents and targets to close at 120,000 agents by the end of 2023.
The daily transaction limit will increase from the current Kes 300,000 to Kes 500,000. The limit per transaction will remain at Kes 150,000 and customers can transact multiple times upto the limit of Kes 500,000 daily.