Safaricom PLC has cancelled an earlier communication on planned system maintenance that was expected to affect some M-PESA services.
The maintenance was to take place on the night of Tuesday, September 10, from 11 pm to 3:30 am on Wednesday, September 11.
While addressing the earlier notice issued on Tuesday, Safaricom clarified that the system maintenance would not take place.
Safaricom Announces M-PESA Disruption
The telco had advised customers to brace for the outage while assuring that it had planned to ensure minimal inconvenience.
The company further apologized for any inconvenience caused and thanked customers for their patience.
“We are sorry for any inconvenience caused and thank you for supporting us to be the country’s leading provider,” Safaricom said.
Also Read: Safaricom Clarifies Cancelling M-PESA Payments for Starlink Customers
The telco- giant on August 10 also announced planned scheduled maintenance to affect some M-PESA services on the night of Sunday, August 11, from 11 pm to 4 am on Monday, August 12.
During the maintenance, access to Lipa na M-PESA Paybill and Buy Goods services, International money transfers (Western Union), M-PESA Global, as well as M-PESA and mySafaricom Apps was intermittent.
Similarly, on July 14, the company notified customers of planned maintenance on its M-PESA system on Sunday, July 14, 2024.
The maintenance was to take place from 11 pm to 4:00 am on July 15.
The telecommunications company had yet again on June 22 notified customers of planned maintenance on its M-PESA system on Monday, June 24, 2024.
The tech giant has been attributing the planned scheduled system maintenance to its innovation and enhancement of services to connect their customers with endless possibilities.
Also Read: Will Starlink Dethrone Safaricom? Experts Explain How to Choose the Best Wi-Fi
Safaricom Drops in Share Price
The Safaricom board on Wednesday, July 24, 2024, held its Annual General Meeting (AGM) for the year ended 31 March 2024 where it announced a drop in its share price and the exit of board members who had left.
During the AGM, the board announced a 17 percent drop in its share price which it claimed that the street protests witnessed across several parts of the country in the past two months had contributed to.
This saw East Africa’s most profitable company lose more than Ksh118 billion in paper value over the past two months.
The company’s management told shareholders that the street protests were partly to blame for the bearish run the firm’s counter has had at the Nairobi bourse.
“Safaricom share price declined due to foreign investor sell-off as interest rates rose in developed countries. Other factors contributing to the decline are the current protests in the country,” stated the management during the AGM.
The firm’s shareholders during the AGM also approved a total dividend payout of Ksh1.2 per share for the year ended March 2024, representing a total dividend payout of Ksh48.08 billion.
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