Majority of the country’s total customer’s are on Safaricom.
Safaricom has managed to retain its position as market top despite losing 1.2 million subscribers after the Opposition called for a boycott.
Raila Odinga later rescinded the call.
Kenyans will from July 1 have to go deeper into their pockets as the new charges for the money sending service M-PESA take effect.
In his budget reading, Treasury CS Henry Rotich revealed that customers would now be charged 12 percent up from 10 percent of every cost of money transfer.
Sending between Kshs.1-100 to other MPesa users will still remain free.
Majority of the country’s total customers are on Safaricom which makes a total of about 30 million.
Safaricom has managed to retain its position as market king despite losing 1.2 million subscribers after the Opposition called for a boycott.
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Below are the new M-PESA charges:
Raila Odinga, who had claimed that Safaricom was connected to his poll loss in the August 2017 general elections, later rescinded the call.
This came even as competitors Airtel and Telkom gained from the move. The two companies had earlier indicated plans to merge and take on Safaricom but “it did not succeed”.
In May, Safaricom announced Ksh. 55.3 billion profit up from Ksh. 48.4 billion the previous year, further proving its dominance in the market.
M-PESA had contributed Ksh. 62.3 billion to the total income with CEO Bob Collymore also citing development of specific products.
“To achieve these results we sharpened our focus on putting our customers first, delivering relevant products and services, and organizational effectiveness; a strategy that was exceptionally well executed considering the challenging business climate last year,” CEO Bob Collymore said via Skype from London.