Safaricom on Thursday announced a reduction in charges for paybill and business-to-customer tariffs to cushion customers from tough economic challenges.
The telco says bank to M-PESA charges have been reduced by an average of 61%.
Additionally, M-PESA to Bank charges have been reduced by an average of 47% and apply to customers making M-PESA to Bank transactions. Transactions below KES 100 remain zero-rated.
The revised tariffs will be effective on January 1, 2023.
“In our role to continue supporting the economy and stimulating growth, we have taken the initiative to reduce significantly our paybill and business to customer tariffs,” Safaricom CEO Peter Ndegwa said.
“This move reaffirms our commitment to support all our customers and enable them cost-effectively get along with their lives, especially at this time when most Kenyans are experiencing hard economic times,” he said.
The revised tariffs will be effective on January 1, 2023.
“The revised tariffs have been structured to ensure alignment with the Central Bank of Kenya pricing principles on customer centricity; transparency and disclosure, fairness and equity, choice and competition, as well as affordability.”
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