New M-Pesa Rates

While the Central Bank of Kenya has re-established transaction charges on mobile money transfers of up to 1000 shillings, Safaricom has given Kenyans some sort of reprieve for introducing lower transaction fees.

Through the Chief Executive Officer, Peter Ndegwa, the mobile network operator announced that it had cut a deal with Central Bank to reintroduce transaction fees for money transfers exceeding 100 shillings.

However, the transaction charges will be at a reduced rate of 45 percent. Mpesa users will be charged 6 shillings for transactions between 101 and 500; and 12 shillings for transfers between 501 and 1500.

Withdrawal charges remain the same.

The new rates will be effective as of 1st January 2021.

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