CBK to Cap Mobile Money Fees

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The Central Bank of Kenya (CBK) will cap person-to-person mobile money transfer fees to reduce costs for millions of users, affecting Safaricom’s M-Pesa and Airtel Money revenues. As part of the Kenya National Financial Inclusion Strategy 2025–2028, the move aims to cut the average transaction fee from Sh23 in 2024 to Sh10 by 2028. CBK said high fees have slowed uptake of advanced services, despite mobile money’s key role in financial inclusion.