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Home Business

CBK Seeks Power To Control The M-Pesa App

The Central Bank Of Kenya now want to have control over the growing M-Pesa app.

by Denis Riush
June 13, 2022
in Business, Business ideas
132 1
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Central Bank Of Kenya

A front view of central bank of Kenya.

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The M-Pesa app is one of the growing online money transaction platform in Kenya. Over the last few months  they platform have been experiencing hefty money transactions on daily basis. This has got the Central Bank Of Kenya some attention and now the CBK want to regulate the application. The M-Pesa app was launched last year and has overseen good growth in the number  of users and transactions.

The application currently hosts services such as banking , insurance sectors , booking services and virtual visa card for Global payment. The M- Pesa visa virtual card will be gradually available across other M-Pesa markets through the M-Pesa super app under the patnership between M-Pesa and Visa. Which means the app can handle hefty transactions in a day in what the CBK says are becoming a major disruptor in the digital financial services ecosystem and must be regulated.

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Denis Riush

I am a digital marketer and content creator at allies best. I work on social media marketing and search engine optimization.

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