Daily M-pesa limit increased

By Peter Ochieng 

Are you an M-pesa customer with increased cashless transactions?

Well, there is a reason to smile.

M-Pesa customers will from tommorrow, Tuesday 15th August, 2023 transact up Sh500, 000, through the mobile money platform.

The new daily limit is Sh200, 000 up from the previous Sh300, 000, following approval by the Central Bank of Kenya (CBK).

M-pesa is operated by Safaricom.

Safaricom Chief Executive Officer (CEO) Peter Ndegwa said the new limit seeks to provide more convenient to customers.

“We appreciate the role that the Central Bank of Kenya has played by constantly providing guidance on innovations and protections that we have put in place to strengthen M-PESA’s adherence to KYC, anti-money laundering, and other financial regulations and safeguards," said Ndegwa.

It is the second time Safaricom is increasing the M-pesa transaction limit.

The first limit increase was effected in March 2020, from Sh150, 000 to Sh300, 000.