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CBK Extends Free Mpesa Transaction Period for 6 Months

Alardyse 06/25/2020

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Central Bank of Kenya has today extended the Covid19 measures on mobile money transactions untill December 2020.

The CBK governor,Mr Patrick Njoroge has delivered the news of goodwill that was once put in place in March 2020 as one of the mitigations aimed at cushioning the Kenyan vulanarables who had been purged hard by the announcement of the first Covid19 case in the country in mid March.This was followed by an almost complete shut down of the economy as the government, through the president Uhuru Kenyatta,who directed decongestion of masses leading to closure of a good number of industries and business inorder to combat the virus.Consequently a good number of employees were rendered jobless hence hard economical times was awaiting them.

CBK in conjunction with Safaricom weived for 3 months transaction cost of any money send below 1000 from Match till June.This was one way of encouraging cashless transaction thus combating the spread of the Virus.

CBK also noted that this measures were timely and very effective in facilitating official and personal transfers at a time of great need.Due to this effectiveness,CBK has responded positively to the ongoing purgings of the pandemic and thus extends the offer for a further 6 months.

As evidence,this is a letter from CBK,

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