Sr. Jecinter Antoinette Okoth, FSSA
Following the Kenya’s President request on the use of cashless transaction as one of the preventive measures to avoid physical contact with money during this period when confirmed cases of COVID-19 have currently increased to seven, the two mobile money service operators Safaricom and Airtel have adhered to the directives of the Head of State by waiving transaction costs to citizens.
“Safaricom PLC would like to thank the Central Bank of Kenya Governor Dr. Patrick Njoroge for hosting a meeting with Safaricom and other industry players to discuss the evolving situation around the COVID-19 (Coronavirus) pandemic,” the Chief Executive Officer (CEO) of Safaricom PLC Mr. Michael Joseph stated in statement dated Monday, March 16.
He disclosed that transactions below KES. 1,000.00 ($10.00) which used to attract charges will now be free for a period of three months.
“From tomorrow morning (March 17, 2020), M-PESA users will be able to send any amount below Ksh1,000 for free over the next 90 (ninety) days,” the statement reads in part.
They also increased the transaction limits for the sustenance of micro businesses saying, “To support small and micro business enterprises (SMEs), CBK has also approved the increase of daily M-PESA transaction limits from the current Ksh70,000 to Ksh150,000. Kenyans will also be able to transact up to Ksh300,000 up from the current limit of Ksh140,000, and hold up to Ksh300,000 in their M-PESA wallets.”
The decisions which were being made after the President of Kenya addressed the nation on Sunday, March 15 when two more cases were confirmed in the country, are meant to ease the citizens’ life as they are expected to avoid shopping places and gatherings and use of cash in business transactions.
Also, for the Airtel mobile money providers, transactions across all bands are meant to be free for a period of three months and the transaction limits have been increased.
“From “March 17, 2020, Airtel Kenya will waive all person to person transaction fees for Airtel Money customers across all the bands for the next 90 days,” the Managing Director of Airtel Networks Kenya Limited Mr. Prasanta Das Sarma highlighted in a press statement released Monday, March 16.
He added, “Further to this, in boosting and supporting the SME and micro business enterprise, together with the Central Bank of Kenya we have also revised the transaction limits for mobile money transactions.”
The daily transaction limit has therefore been increased from KES. 70,000 ($ 700) to KES. 150,000 ($1,500), and the daily limit for mobile money transactions has been increased from KES 140,000 ($ 1,400) to KES. 300,000 ($3,000), while mobile money wallet balance limit has increased from KES. 140,000 ($1,400) to KES. 300,000 ($3,000).
The two mobile money service providers in Kenya have also disclosed providing a Call Center which has been set up by the National Emergency Response Committee in partnership with Government where all customers can now access information and updates on the COVID-19. “This will enable Kenyans to gain better understanding and knowledge on how to prevent and manage any suspected cases,” Mr. Sarma noted and added, “the toll free line 719 is free.”