Airtel Kenya Raises Mobile Money Limit Day After Safaricom: "Transact KSh 500k"

• Telecommunications company Airtel Kenya increased its daily mobile money transaction limit to KSh 500,000, up from KSh 300,000
• Airtel Money Kenya managing director Anne Kinuthia Otieno said businesses would conduct their operations more conveniently and efficiently
• It maintained the limit per transaction at KSh 150,000 but noted customers could transact multiple times

Kenya's second-largest telecommunications company Airtel has received a nod from the Central Bank of Kenya (CBK) to increase its daily mobile money transaction limit to KSh 500,000, up from KSh 300,000.

In a statement on Tuesday, August 15, the company said that raising the limit would benefit a wide range of its customers, including businesses and government agencies.

Airtel maintained the limit per transaction at KSh 150,000.

"The daily transaction limit will increase from KSh 300,000 to KSh 500,000. The limit per transaction will remain at KSh 150,000, and customers can transact multiple times up to the limit of KSh 500,000 daily," the company stated.

Airtel Money Kenya managing director Anne Kinuthia Otieno said businesses would conduct their operations more conveniently and efficiently.

"Consumers can access a wider range of goods and services contributing to economic growth, job creation, and improved financial stability in Kenya," she explained.

Airtel revealed it had tripled its number of mobile agents and targets to cross the 120,000 mark by the end of the year.

Why Safaricom increased M-Pesa limit

On Monday, August 14, Safaricom increased its daily M-Pesa account limit to KSh 500,000.

Initially, mobile money account limits for M-Pesa users were capped at a maximum of KSh 300,000 per day, limiting several users who desired to transact with more daily amounts.

The new development came following approval by the Central Bank of Kenya.

"Starting Tuesday August 15, 2023, all M-Pesa customers will enjoy increased daily transaction limits and increased account limits of KSh 500,000 following approval from the @CBKKenya," tweeted Safaricom.

According to Safaricom, the increased limits will provide customers and businesses with even more convenience and safety when transacting.

Why Safaricom increased M-Pesa charges

On Friday, July 28, the Court of Appeal set aside the injunction on the Finance Act 2023 that President William Ruto signed on June 26.

Following the implementation of the contentious law, Safaricom reviewed its M-Pesa, data, fibre, call and Short Message Service (SMS) charges.

The giant telecommunications company said the M-Pesa business till tariff will increase from 0.5% to 0.55%.