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CBL authorizes increase in mobile money transaction limit

 

STAFF REPORTER

MASERU – The Central Bank of Lesotho (CBL) has given authorization to mobile money issuers to increase transaction limits for duly identified and verified mobile money customers.

According to the CBL, the authorisation has been given in order to facilitate a wider use of electronic payments for goods and services by the public during the time of the COVID-19 pandemic.

The adjustments are in two Know Your Client (KYC) levels, Practical KYC whose daily limit has been increased from M5 000 to M10 000 while the monthly daily limit has moved from M15 000 to M20 000.

For Full KYC customers the daily limit has been increased from M7 500 to M17 5000, with the monthly limit upped from M20 000 to M30 000.

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