Safaricom, Kenya’s telecom market leader on Tuesday announced new M-Pesa tariff reductions.
Chief Executive Officer Peter Ndegwa said the new tariffs will affect more than 90 per cent of all customer transactions when sending money.
Going forward, therefore, it will now cost KSh6 to send between KSh101 and KSh500, down from KSh11. Transactions of between KSh1,501 and KSh2,500 will cost KSh32 down from KSh41.
All transactions of KSh 100 and below will remain free.
“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,” Ndegwa said.
According to Ndegwa, the price cuts are permanent, effective 1st January 2021 and will enable more than 26.8 million customers to continue enjoying lower costs whenever they send money.
“Our new, reduced tariffs will equally apply to transactions for micro-Businesses under our new Pochi La Biashara service, and for Lipa Na M-PESA businesses using the Transacting Till to make payments,” he said.
He said the maximum a customer transact daily or hold in Mpesa account is KSh300,000.
“As part of our Customer Obsession strategy, we maintain our commitment to continue to introduce new measures and innovations that meet the needs of our customers,” he said.