Safaricom Hints at Dropping Fees For M-Pesa Transactions

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For the last few months, we have been enjoying some pretty nifty deals from Safaricom including double Wi-Fi speeds and free M-Pesa transactions. The question in most peoples heads is whether these offers will stand when the pandemic is over. However, it looks like there’s a light at the end of this tunnel.

Safaricom Dropping M-Pesa Transactions Fees

A little back story. The Central Bank of Kenya (CBK) announced the removal of charges on M-Pesa transactions of up to KES 1,000 from March 16 The December 31st deadline is fast approaching and questions about the 2021 progress are popping up.

Well, according to Business Daily, Safaricom is considering cutting M-Pesa transaction fees. The move comes in line with efforts to retain the higher business volumes that followed the imposition of free M-Pesa for deals of up to KES 1,000.

The telco’s CEO, Peter Ndegwa, hinted that the firm may offer price cuts to retain customers. In lay-mans terms, many people have joined the service and those that were already there increased their transactions due to free transfers.

“We are considering but we would want to see how consumers respond before we make a significant judgment on that,”

“It is something we are looking at and we intend to reduce our transaction costs over time. How quickly we do that is something we want to judge. For now, we haven’t made a decision yet at this stage.” Says Mr Peter Ndegwa

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