Safaricom Reduces MPesa Transaction Charges By As Much As 45 Percent

Safaricom has announced the reduction of MPesa transaction charges by as much as 45 percent. 

The move is in line with the Central Bank of Kenya (CBK) directive requiring mobile money operators to submit new tariff structures that meet new principles such as transparency, fairness, and affordability.

Starting January 1st, MPesa users will be charged Sh12 to send between Sh501 and Sh1000 up from Sh15 charged at the moment while those transferring between Sh101 and Sh500 will pay Sh6 from Sh11.

Transactions between Sh1,501 and Sh2,500 will cost Sh32 down from Sh41, Sh51 for transactions ranging from Sh2,501 to 3,500, and 55 for those between Sh3,501 and 5,000.

“These tariff reductions will affect more than 90 percent of all customer transactions when sending money. The price cuts are permanent, effective from January 1, 2021, and will enable more than 26.8 million customers to continue enjoying lower costs whenever they send money,” said Safaricom CEO Peter Ndegwa.

Those sending between Sh,5001 and Sh7500 will be charged Sh75, Sh87 for transactions between Sh7,501 and Sh10,000, Sh97 for Sh10,001 to Sh15,000, and Sh102 for Sh15,001 to Sh20,000. All transactions ranging from Sh20,000 to Sh150,000 will cost Sh105.

The telco operator did not make any changes to the MPesa withdrawal charges.