Safaricom has announced a waiver on P2P payments to prevent the spread of COvid-19 in Kenya. All P2P transactions that are under 1000 Kenyan Schillings will be free from Tuesday 16th March to the next 90 days. This fee waiver will help reduce the physical handling of money.
President Uhuru Kenyatta ordered the Central Bank to explore ways of deepening mobile-money usage in the country. It will reduce the risk of spreading the virus through the exchange of cash.
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Safaricom, through M-Pesa is has obliged the directive by encouraging the use of digital payments over cash. The daily transaction limit on M-Pesa has moved from Sh70, 000 to Sh150, 000.
The directive will invariably encourage the practice of social distancing, as well as the use of digital payment gateways. It is leveraging this global Covid-19 pandemic to propel financial inclusion in the country.
M-Pesa is strategically positioned to pilot this movement, with over 20 million customers and 176, 000 agents in Kenya. The company holds nearly 75% of the mobile money market share in Kenya and is widely used in neighboring East African countries.
According to Worldometer, Kenya currently has three reported cases of Covid-19. Several tech companies have also asked workers to work remotely to contain the spread of the virus. Citizens are advised to adhere to the health and safety measures provided by the Ministry of Health.
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