“As guided by the Central Bank of Kenya (CBK), and taking into account the principles on the pricing of mobile money services, we have taken the decision to reduce our M-Pesa tariffs by up to 45 per cent for lower value transaction bands,” said Safaricom Chief Executive Peter Ndegwa in a statement yesterday.
“This is in consideration of the expiry of the period for the zero-rated M-Pesa transactions and the ongoing Covid-19 and economic circumstances.”
Soon after the first Covid-19 case was announced in the country, Safaricom through a directive from CBK waived fees for M-Pesa transactions below Sh1,000 in what was aimed at cushioning customers from the effects of the pandemic.