CBK proposes 130pc cut in mobile money fees
 NAIROBI, Kenya, Sept 29 - The Central Bank of Kenya (CBK) has proposed a sharp reduction in mobile money transaction fees, a move that could ease Kenya breaking news | Kenya news today |..
✨ Key Highlights
The Central Bank of Kenya (CBK) has proposed a significant reduction in mobile money transaction fees, targeting a 130% cut by 2028, which would lower charges from Sh23 to Sh10 per transaction.
- The regulator aims to combat stagnation in mobile money usage and encourage more advanced services beyond basic transfers.
- This move, requiring parliamentary approval, could provide substantial relief to households and small businesses.
- However, it may reduce revenue for telcos like Safaricom, whose M-Pesa service generated Sh161.1 billion in revenue in the year ending March 2025.
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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.
