The Central Bank of Kenya has announced an extension to a number of measures that were introduced to cushion Kenyans when the coronavirus pandemic broke out in march.
CBK said on Wednesday said the measures will remain in place till December.
The announcement means that Kenyans will continue enjoying the zero charges on the transaction of mobile money up to Sh1, 000.
The current tariff for transactions exceeding Sh70, 000 has also been extended till december.
CBK noted that since the measures were introduced in March to facilitate curbing covid-19 there has been a significant increase in the use of mobile money transactions.
The bank also noted that the increase was mainly in low-value transactions of Sh1, 000 and below which accounts for nearly 80 % of mobile money transactions.
CBK at the same time appreciated the removal of such charges has cushioned the vulnerable in society. More than 1.6 million costomers began using money transactions.
But the business related transactions have recorded negative outcomes. CBK said that the measures were timely and highly effective in facilitating official and personal transfers at a time.
CBK also added that the increased preference for mobile wallets and transactions limits have resulted to increased usage at higher amounts and greater convenience.