Kenya’s monetary policy committee retained the key lending rate at 7 percent during yesterday’s meeting. The team said that mitigation measures deployed since March have been having the desired outcome. The Monetary policy committee (MPC) said that leading indicators for the Kenyan economy for the second quarter suggest the impact of COVID19 on the economy was most pronounced in April, with evidence of recovery in May. READ MORE..

The Central Bank of Kenya ( CBK) has determined that the mobile wallet and transaction limits that were announced on March 16th, 2020 will remain in force.

This means that there will be no charge for mobile money transfers below KSh 1,000. There will also be no charge by payment service providers and commercial banks for transfers between mobile money wallets and bank accounts. READ MORE..