Safaricom Increases Charges On M-pesa Transactions | Vosena News

Safaricom Increases Charges On M-pesa Transactions

PHOTO: TUKO

Kenyans will from July 1 have to dig deeper into their pockets as the new charges for the money transfer service MPesa take effect.

In his budget reading, Treasury CS Henry Rotich revealed that customers would now be charged 12 percent up from 10 percent of every cost of money transfer according to Citizen News.

Transferring between Ksh.1-100 to other MPesa users will however still remain free.

Majority of the country’s total subscribers are on Safaricom which makes a total of about 30 million.

Safaricom has managed to retain its position as market leader despite losing 1.2 million subscribers after the Opposition called for a boycott.

Below are the new MPesa charges:

PHOTO: CITIZEN NEWS

Raila Odinga, who had claimed that Safaricom was linked to his poll loss in the August 2017 general elections, later rescinded the call.

This came even as competitors Airtel and Telkom gained from the move. The two companies had earlier indicated plans to merge and take on Safaricom but “developed cold feet”.

In May, Safaricom announced Ksh. 55.3 billion profit up from Ksh. 48.4 billion the previous year, further proving its dominance in the market.

MPesa had contributed Ksh. 62.3 billion to the total income with CEO Bob Collymore also citing development of specific products.

“To achieve these results we sharpened our focus on putting our customers first, delivering relevant products and services, and organizational effectiveness; a strategy that was exceptionally well executed considering the challenging business climate last year,” he said via video link from London.

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Brandon Vosenah

Brandon Vosenah

I have a great passion in writing. I get you all informed on emerging issues, a taste of different cultures and everything from news.
Brandon Vosenah
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