Kenya Plans to Slash Mobile Money Transaction Fees

Source: The Kenyan Wall Street

The Central Bank of Kenya (CBK) is moving to slash the cost of mobile money transfers in a sweeping effort to reignite financial inclusion in a market that has long been the global model for digital payments.

While volumes keep rising- transactions reached an estimated KSh 8.7 trillion in 2024- the number of new users is stagnating and most still rely on basic peer-to-peer transfers rather than savings, insurance, or investments.