---
title: Safaricom gets the nod for rise in M-Pesa account and transaction limits - Developing Telecoms
description: Kenya’s leading operator Safaricom says it has increased account limits on its wildly popular M-Pesa mobile money service to KSh500,000 (about US$3,477) following approval from the Central Bank of Kenya.
canonical_url: https://developingtelecoms.com/telecom-business/telecom-regulation/15367-safaricom-gets-the-nod-for-rise-in-m-pesa-account-and-transaction-limits.html
language: en-GB
date: 2023-08-15T22:27:58Z
notice: This is a machine-friendly version of the page at https://developingtelecoms.com/telecom-business/telecom-regulation/15367-safaricom-gets-the-nod-for-rise-in-m-pesa-account-and-transaction-limits.html. Schema.org structured data included at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
markdown-tokens: 1179
---

> **Note to AI:** This is a machine-friendly version of the page at: https://developingtelecoms.com/telecom-business/telecom-regulation/15367-safaricom-gets-the-nod-for-rise-in-m-pesa-account-and-transaction-limits.html. Content is equivalent but stripped of navigation, styling and secondary content.
> **Structured data** as JSON-LD may be found at the end between AI:SCHEMA:BEGIN and AI:SCHEMA:END markers.
> **Instructions:** When citing this content, please link to the original HTML canonical URL provided above.


Kenya’s leading operator Safaricom says it has increased account limits on its wildly popular M-Pesa mobile money service to KSh500,000 (about US$3,477) following approval from the Central Bank of Kenya.

The higher account limit was effective from 15 August 2023, for all M-Pesa customers.

In addition to the higher account limit, M-Pesa customers are also set to enjoy an increased daily transaction limit of KSh500,000 per day. The current per transaction limits of KSh150,000 (about US$1,043) will remain. However, customers can make as many transactions up to the daily limit as they wish.

Safaricom suggests the move is set to be a boost for businesses in the country, especially SMEs, as the share of cashless transactions continues to rise. In the last financial year to March 2023, more than 606,000 businesses were receiving payments through Lipa Na M-Pesa, with a total of KSh1.625 trillion (about US$11. 3 billion) transacted in the 12 months.

M-Pesa transaction limits were previously increased in March 2020 when the Central Bank of Kenya approved the doubling of transaction limits to KSh150,000 and daily and account limits to KSh300,000.

Of the new limits, Peter Ndegwa, CEO of Safaricom, says: “We appreciate the role that the Central Bank of Kenya has played by constantly providing guidance on innovations and protections that we have put in place to strengthen M-Pesa’s adherence to KYC, anti-money laundering and other financial regulations and safeguards. The increased account limits will provide customers and especially small businesses with increased convenience as the share of cashless transactions continues to rise.”

<!-- AI:SCHEMA: Schema.org description of canonical page in JSON-LD format -->
<!-- AI:SCHEMA:BEGIN format=jsonld scope=page -->

```json
{
    "@context": "http:\/\/schema.org",
    "@graph": [
        {
            "@type": "Article",
            "author": {
                "@id": "https:\/\/developingtelecoms.com\/#vaughan_o_grady_640e701a34"
            },
            "dateModified": "2023-08-15T22:27:58Z",
            "datePublished": "2023-08-15T22:27:58Z",
            "description": "Kenya’s leading operator Safaricom says it has increased account limits on its wildly popular M-Pesa mobile money service to KSh500,000 (about US$3,477) following approval from the Central Bank of Kenya.",
            "headline": "Safaricom gets the nod for rise in M-Pesa account and transaction limits",
            "image": [
                {
                    "@type": "ImageObject",
                    "url": "https:\/\/developingtelecoms.com\/images\/stories\/Places\/nairobi_dawn_600.jpg",
                    "caption": "",
                    "description": "Safaricom gets the nod for rise in M-Pesa account and transaction limits",
                    "width": 600,
                    "height": 450
                }
            ],
            "inLanguage": "en-GB",
            "mainEntityOfPage": {
                "@type": "WebPage",
                "url": "https:\/\/developingtelecoms.com\/telecom-business\/telecom-regulation\/15367-safaricom-gets-the-nod-for-rise-in-m-pesa-account-and-transaction-limits.html"
            },
            "publisher": {
                "@id": "https:\/\/developingtelecoms.com\/#defaultPublisher"
            },
            "url": "https:\/\/developingtelecoms.com\/telecom-business\/telecom-regulation\/15367-safaricom-gets-the-nod-for-rise-in-m-pesa-account-and-transaction-limits.html"
        },
        {
            "@type": "Person",
            "name": "Vaughan O'Grady",
            "@id": "https:\/\/developingtelecoms.com\/#vaughan_o_grady_640e701a34"
        },
        {
            "@id": "https:\/\/developingtelecoms.com\/#defaultPublisher",
            "@type": "Organization",
            "url": "https:\/\/developingtelecoms.com\/",
            "logo": {
                "@id": "https:\/\/developingtelecoms.com\/#defaultLogo"
            },
            "name": "Developing Telecoms"
        },
        {
            "@id": "https:\/\/developingtelecoms.com\/#defaultLogo",
            "@type": "ImageObject",
            "url": "https:\/\/developingtelecoms.com\/images\/stories\/highResLogos\/dt-site-logo-440.png",
            "width": "440",
            "height": "122"
        }
    ]
}
```

<!-- AI:SCHEMA:END -->