M-Pesa’s daily cash transaction ceiling of Sh. 140,000 is set to be raised. This is in a bid to shore up uptake of the newly launched mobile based bond trading, M-Akiba.
“We are discussing with Central Bank of Kenya to see to what extent we can increase the daily limit to a higher amount to allow higher purchases. This is one way to allow as many Kenyans as possible to participate in Treasury bills, promote financial inclusion and boost our infrastructure financing,” said Treasury Cabinet Secretary Henry Rotich.
He spoke during the launch of the historic M-Akiba bond. The current offer runs until 10th April or until Sh150 million is raised with the remaining Sh4.85 billion expected to be floated in June.
Currently, M-Pesa allows a maximum account balance is Sh.100,000 but the daily transaction is capped at Sh.140,000.
The launching of M-Akiba was done by the National Treasury as the issuer of the bond, CBK which issues bond on behalf of government), the Capital markets Authority as the capital markets regulator, Safaricom and Airtel as mobile network operators, the Nairobi Securities Exchange, where the bond shall be traded and listed a
