Statement: Telkom Kenya eliminates fees for transactions below KSH 1,000
Today, the Central Bank of Kenya Governor, Dr. Patrick Njoroge, hosted a meeting with all telcos and other industry players, with the view of encouraging the use of mobile money and other forms of cashless payments. The aim herein is to minimise the use of physical cash in light of the COVID-19 pandemic.
The meeting with the regulator resolved to introduce a broad raft of measures, to further incentivise the use of cashless transactions, as directed by His Excellency the President, Uhuru Kenyatta, a move that Telkom fully supports.
To this end, effective midnight, March 17, 2020, all Person to Person transactions below KSh 1,000 will be zero-rated.
In addition, the daily T-Kash limit per transaction increases from KSh70,000 to KSh150,000, with the daily sending limit being reviewed upwards from KSh140,000 to KSh300,000. More importantly, any transactions between KSh50,000 up to KSh300,000 will attract a rate of KSh100. All other fees remain unchanged.
Customers will also now access an increased wallet limit of KSh 300,000 from KSh 100,000.
Telkom, as an enabler to the mobile financial services eco-system, is deeply committed to Kenya’s quest of making financial transactions a safer process, as the country steps up its fight against the spread of COVID-19.