Friday
March 24
2017

M-Pesa cash ceiling to go up in bid to boost M-Akiba bond

Plans are in the offing to raise the daily mobile money transaction ceiling from the current Sh140,000 to accommodate higher purchases of the M-Akiba product launched on Thursday.

Treasury Cabinet Secretary Henry Rotich said the move is aimed at allowing those with a higher ability to buy the mobile-based government security instrument as the daily limitation may lock them out of the new investment.

“We are discussing with Central Bank of Kenya to see to what extent we can increase the daily limit to a higher amount to allow higher purchases. This is one way to allow as many Kenyans as possible to participate in Treasury bills, promote financial inclusion and boost our infrastructure financing,” said Mr Rotich.

Source: Daily Nation (link opens in a new window)

Categories
Technology
Tags
financial inclusion, government, investing, mobile banking, mobile finance, mobile money