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.