CBK Proposes Cutting Mobile Money Fees and Raising Compensation Limits for Depositors - September 2025

The Central Bank of Kenya (CBK) plans to significantly reduce mobile money transaction fees, as detailed in the draft National Financial Inclusion Strategy 2025–2028. The proposal targets a 130% cut by 2028, which would lower charges from Sh23 to Sh10 per transaction. This initiative aims to reignite financial inclusion and broaden participation in the digital economy, addressing a stagnation in new mobile money users. Separately, Kenya is set to increase compensation limits for policyholders and depositors. This move is intended to strengthen trust in the financial sector and enhance safety nets for consumers of financial instruments amidst rising fraud and cyberattacks.