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Originally published by The Standard Business
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January 21, 2026
2w ago

The downside of the cheque system on Kenya's economy

The downside of the cheque system on Kenya's economy

A typical cheque takes 2 days (transaction plus one day) during which period the funds are neither available to the Payee nor the drawer...

✨ Key Highlights

The cheque system in Kenya is facing a decline due to its inconvenience and high costs, with its growth having plateaued. This payment method is increasingly being replaced by digital alternatives like M-Pesa.

  • The value of cheques issued in Kenya is currently valued at 200m monthly.
  • M-Pesa processes an average of Sh3 trillion worth of transactions per month.
  • The article notes the "inconvenience and cost of having to courier the cheque from the drawer location to the Payee, then physically avail the cheque to the receiving bank" as a key factor in its undesirability.

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