“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.
By
Sara Okuoro |
December 22nd 2020 at 17:33:17 GMT +0300
Safaricom has reduced transaction cost between Sh101 and Sh500 to Sh6 from Sh11. Sending Sh1,501 to Sh2,500 will cost Sh32 down from Sh41 while transactions below Sh100 remain free. The new rates take effect from January 1, 2021.
As part of various measures to help the country better weather the Covid-19 Pandemic, the telco announced temporary zero-rating of M-Pesa transactions in March.
“As guided by the Central Bank of Kenya 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. 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,” said Safaricom CEO Peter Ndegwa.