Safaricom has announced a reduction in M-Pesa charges for hospitals and electricity, among others, in efforts to cushion its customers from the challenges posed by inflation and other economic woes.
While the telco has reduced Bank to M-Pesa transactions by an average of 61 per cent, M-Pesa to Bank has been reduced by approximately 47 per cent.
The telco says the move is meant to protect customers who are already battling inflated costs of food, fuel, among other prices.
Also Read: The Threat That is Inflation
“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,”
“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.” he added.
The changes will take effect starting January 2023.