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Sh3.3trn bulk cash transfers signal business activity uptick

Transactions cleared and settled through the Kenya Electronic Payments and Settlement System and Real Time Gross Payment System (KEPSS/RTGS) amounted to Sh3.32 trillion in July. FILE PHOTO | NMG

By  CONSTANT MUNDA

Correspondent

Real-time bank transfers of more than Sh1 million recovered from a 26-month low to touch a new monthly record in July as authorities started easing Covid-19 trade and travel restrictions.

Transactions cleared and settled through the Kenya Electronic Payments and Settlement System and Real Time Gross Payment System (KEPSS/RTGS) amounted to Sh3.32 trillion in July, the month when businesses started reporting increased activity, according to latest statistics.

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Note: The results are not exact but very close to the actual.

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