Finance minister of Kenia John Michuki has ordered the Central Bank to audit Safaricom’s M-Pesa money transfer system after launching of new regulations at the School of Monetary Studies in Nairobi for micro-finance institutions. It is necessary to say that such decision was made just a day M-Pesa signed an agreement with Western Union for international cash transactions, reports The East African.

Michael Joseph, CEO of Safaricom commenting the current situation was very calm: “We welcome the audit by the Central Bank of Kenya since it will verify the concerns and satisfy the regulator that we have put safeguards and the risks are minimal.” 

According to M-Pesa since the launch of the system more than 4 million accounts have been registered and Sh20 billion has been transferred through the system.