Xinhua
05 Aug 2020, 22:48 GMT+10
NAIROBI, Aug. 5 (Xinhua) -- The use of mobile money in Kenya has surged to a new high boosted by one of the measures declared by the government in the war against COVID-19.
The government at the outbreak of the disease in March waived charges on sending up to 1,000 shillings (about 9.3 U.S. dollars) to encourage cashless payments in a bid to curb the spread of the disease.
The move was also to help cushion most vulnerable households, said the Central Bank of Kenya (CBK).
New data from the CBK, which regulates the fintech sector, shows on Wednesday the measure has greatly lifted the use of mobile money in the country.
The East African nation residents made transactions worth about 13.2 billion dollars between March and June, the CBK data indicated.
During the period, Kenyans made history in the use of the service as they registered the highest transactions in the history of the technology, moving about 3.7 billion dollars via mobile phones in June.
On the other hand, the lowest transactions per month in about two years were carried out in April, where Kenyans moved some 2.9 million dollars.
April characterized the period when most businesses closed their operations and the government enforced a partial lockdown to curb spread of the disease.
The period was also characterized by families tightening their belts as the economic effects of the disease started to take a toll.
Free mobile money transactions have encouraged Kenyans to pay bus fares, shop at supermarkets and pay utility bills virtually, limiting the use of cash.
"CBK notes that the measure was timely and highly effective in facilitating official and personal transfers at a time of great need," said Central Bank governor Patrick Njoroge recently, adding that the measure had seen more than 1.6 million customers use mobile money channels.
Get a daily dose of Kenya Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kenya Star.
More Information(Photo credit: Bill Streicher-Imagn Images) Australia's Cameron Smith and England's Lee Westwood were in a five-way tie for the lead...
The Hague [Netherlands], July 11 (ANI): Italy made history after securing qualification for the 2026 Men's T20 World Cup in India and...
London [UK], July 11 (ANI): Young prodigy Jamie Smith became just the third England wicketkeeper to hammer 400 runs in a Test series,...
London [UK], July 11 (ANI): England's talismanic batter Joe Root shattered the 'Wall' Rahul Dravid's record for most outfield catches...
London [UK], July 11 (ANI): England right-hand batter Joe Root's poor form in Tests against India's right-arm seamer Jasprit Bumrah...
ABU DHABI, 11th July, 2025 (WAM) - UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan today received a phone call from His...
Russia will oppose any attempt to target its national tongue abroad, the document says ...
Ukraines Security Service has confirmed that Colonel Ivan Voronich was recently gunned down in Kiev A senior Ukrainian intelligence...
Ukraine's Security Service has confirmed that Colonel Ivan Voronich was recently gunned down in Kiev ...
How the Wests recklessness is testing Moscows nuclear patience A multipolar world is, by its nature, a nuclear one. Its conflicts...
Washington and Brussels have been fighting over a tariff increase since February Relations with the US may never return to what they...
Ottawa [Canada], July 11 (ANI): A day after US President Donald Trump announced a new 35 percent tariff on Canadian goods set to take...