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CBK eyeing cut in what you pay to transfer cash

A client using mobile phone to make a transaction. The Central Bank of Kenya says it will examine and give guidance on a single integrated platform for such transactions.

Photo credit: File | Nation Media Group

Mobile money and bank transaction fees are set for a shake-up with Central Bank of Kenya (CBK) planning to roll out a new system allowing customers to send money across any telco or bank cheaply.

The financial sector regulator yesterday said it would examine and give guidance on a single integrated platform for such transactions.