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CBK plans to slash mobile money fees by more than half

Central Bank Of Kenya(CBK) on Haile Selasie Avenue in Nairobi.[Wilbrforce Okwiri,Standard]

The Central Bank of Kenya (CBK) plans to slash the cost of sending money by mobile phone, a vital service used by millions of Kenyans daily.

The move aims to halve transaction fees within four years to cushion households and boost the use of formal financial services. 

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