economy Archives - Daily Chronicles

There is a standoff between police officers and protesters in the Nairobi CBD as demonstrations called by Azimio la Umoja kicked off. Police have been engaged in running battles as they lob teargas to disperse protesters across the city. At around 10.00 am, a delegation of Azimio MPs led by Nairobi Senator Edwin Sifuna stormed the Kenyatta International Convention Centre (KICC). The senator and the protesters scampered as teargas was lobbed, with those who had started gathering outside KICC also taking cover. A similar situation has been witnessed in Kibra Constituency, where protesters barricaded roads and hurled stones at police officers who had been deployed there. Kibra is one of the strongholds of Azimio leader Raila Odinga. Armoured police vehicles and...

The Central Bank of Kenya (CBK) has reintroduced charges on transactions between mobile money wallets and bank accounts which had been waived on March 16 2020. The charges are set to be restored from January 1, 2023, and follow discussions and lobbying between the CBK, banks and payment service providers with the latter two groups pushing for the fees return. The payment service providers (PSPs) and banks have nevertheless agreed to revise the maximum charges on the transactions following consultations with the CBK. The revised maximum charges for transfers from bank accounts to mobile money wallets will be reduced by an average of 61 per cent while the inverse (mobile wallets to bank accounts) charges will fall by an average of 47 per cent. Tariffs for paybills used t...

Tag: economy

Teargas As Police Engage Protesters In Running Battles

CBK Reintroduces Charges Between Mobile money to Bank Transfer that were waived in 2020.