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Kenyans cling to cheques as Africa peers move on
Seychelles has been gradually phasing out cheques, with the government having stopped accepting personal cheques effective May 2025. Effective May this year, it will stop accepting cheques from businesses as it pushes to digitise transactions.
Kenyan businesses and households are clinging to cheque payments as African peers increasingly walk away from one of the world’s oldest banking instruments amid rising preference for digital transactions.
The value of financial transactions completed through cheques has remained above Sh200 billion every month since 2014, except in 2020 when the figure fell to Sh193 billion as people avoided cash and cheques to minimise the risk of spreading the Covid-19 virus.
