Sign in
Download Opera News App



KCB Announces This Following Central Bank's Directives On Transaction Charges

After the Central Bank of Kenya (CBK) announced the reintroduction of bank-to-mobile transaction charges beginning on January 1st, Kenyans have always been eager to know the amount charged on every transaction in this tough economic climate. Transaction charges were slashed in March following the outbreak of the COVID-19 pandemic to encourage the non-physical exchange of money as a way of containing the further spread of the virus.

According to the Central Bank of Kenya, the introduction of charges aims to improve the country's financial system and facilitate the transition to sustainable growth of the mobile money system. CBK stated that the mobile money and bank transactions will be announced by the respective banks.

Yesterday, the Kenya Commercial Bank (KCB) declared their transaction charges on their official Twitter account, something that was not welcomed by most citizens. Below is the tweet.

Due to the tough economy in the country at the moment, Kenyans saw it as another burden for the government to reintroduce such extra transaction charges. The following are some of their replies.

It is the hope of every citizen that the current Ruto government will improve the cost of living to relieve the burdens that the citizens are facing in such tough economic times.

What do you think about the reintroduction of such transaction charges by the government?

Content created and supplied by: Sir~benk (via Opera News )

CBK Central Bank KCB Kenya Commercial Bank Kenyans


Load app to read more comments