The Treasury is working on a proposal to cut M-Pesa transfer charges in a move that looks set to hurt Safaricom’s revenues from a service that makes more money than voice.
The number of dormant mobile money accounts increased by 926,000 last year driven by defaults on digital loans that pushed subscribers to deactivate their SIM cards.
Safaricom has grown its control of the mobile money market to 99.9 percent amid efforts by regulators to open its M-Pesa platform to interface with those from rival Airtel Kenya and Telkom Kenya.