M-Pesa Transactions To Cost More As Safaricom Reviews Prices

Kenyans will have to pay slightly more for M-Pesa transactions starting today, July 29, 2023, in line with the controversial Finance Act 2023 that has been given a go-ahead by the Court of Appeal.

On Friday, the Court of Appeal lifted the orders that had barred the implementation of the Finance Act, giving it a clean bill of health and an opportunity for the Kenya Revenue Authority to go ahead with implementing the same.

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“Following the enactment into law of the Finance Act 2023 and the Court of Appeal ruling on July 28, 2023, effective July 29, 2023, we will be reviewing our call, SMS, M-Pesa, Data, and Fibre pricing to reflect the increase in Excise Duty rate on fees charged on mobile money transfers services from 12 percent to 15 percent,” said Safaricom in a statement.

Safaricom will also review the degrees in Excise Duty rate on telecommunication services (calls, SMS, Data, and Fibre) from 20 percent to 15 percent.

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Here is the statement from Safaricom:

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