Why Kenya wants to cut M-PESA, Airtel Money transaction fees
- CBK plans to cap P2P transfer charges as part of its 2025–2028 National Financial Inclusion Strategy.
- The average transaction cost is targeted to decrease from KES 23 ($0.18) in 2024 to KES 10 ($0.078) by 2028.
- Mobile money providers processed KES 8.7 trillion ($67.3 billion) in 2024, indicating significant economic activity.
The CBK's initiative to lower transaction fees is a commendable step towards enhancing financial inclusion in Kenya. However, balancing the interests of consumers and telecom operators will be crucial to ensure sustainable growth in the mobile money sector. Further discussions should focus on innovative solutions to overcome barriers to adoption and improve financial literacy among underserved populations.
