Jambopay CEO Danson Muchemi during a previous interview with the Standard at his office in Nairobi.  [Elvis Ogina,Standard]

The Central Bank of Kenya (CBK) has approved JamboPay’s request for higher mobile wallet transactional limits.

The JamboPay mobile wallet limits will now be increased from a daily maximum limit of Sh300,000 to Sh500,000 effective August 15, 2023.

JamboPay says its mobile wallet has 1.2 million subscribers that mainly use the services to pay for government services. 

"Over 5000 organisations in East Africa use JamboPay’s ePayments services. Twelve county governments in Kenya and 27 national government entities use JamboPay’s platform."

The firm said its request to increase the transactional limit was made on the backdrop of the government’s drive to digitise more services.

“This will go a long way in supporting the government’s digitisation policy by enabling larger private and government transactions to be undertaken electronically,” Ven Rasugu, said JamboPay’s Head of Customer Experience Ven Rasugu in a statement on Monday.

Business
Premium We are in the dark, Police Sacco founders question sale of prime properties
Business
New tariff lifts Kenya Power to Sh319 million half-year profit
Business
Premium Auditor General pokes holes in G-to-G oil deal
Business
Premium Retail, insurance singled out for topping suppliers' list of shame