Airtel Money Kenya has also increased the daily transaction limit for its customers from the current Sh300,000 to Sh500,000 with effect from August 15, 2023.

The announcement by Airtel Kenya follows approval by the Central Bank of Kenya (CBK) and will see the limit per transaction remain Sh150,000 as the daily limit rises to Sh500,000.

Airtel Money MD Anne Kinuthia-Otieno lauded the approval by CBK saying the move will allow customers of the mobile money transfer platform to transact larger sums of money.

“We are elated about the CBK's decision as this change will significantly empower our customers and partners by providing them with the flexibility to conduct larger transactions and manage their finances more effectively,” said Anne.

Airtel Money says the increasing of the daily transaction limit will greatly boost its customers while also supporting the growth of the digital economy in Kenya.

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“Businesses can now conduct their operations more conveniently, efficiently and consumers can access a wider range of goods and services contributing to economic growth, job creation and improved financial stability in Kenya,” the MD added.

The telco says the move agrees with Airtel Money's pledge towards enabling seamless and affordable digital transactions to all Kenyan citizens and businesses.

Airtel Kenya recently announced that it had tripled its number of mobile money agents and is targeting to close the year 2023 at 120,000 agents.

The announcement by Airtel Kenya comes a day after Safaricom also announced a similar move on its mobile money platform M-Pesa following approval by CBK.