Safaric*m waives fees on M-Pesa transactions below Sh1,000, increases limits

By , K24 Digital
On Mon, 16 Mar, 2020 15:16 | < 1 min read
Safaricom PLC announced on social media Friday that the services will be interrupted as the company maintains its systems. [PHOTO | FILE]
Safaricom headquarters in Westlands, Nairobi. [PHOTO | FILE]
Safaricom PLC announced on social media Friday that the services will be interrupted as the company maintains its systems. [PHOTO | FILE]

Safaricom has heeded President Uhuru Kenyatta's call to lower mobile money transaction fees in a bid to encourage uptake of cashless financial transfers.

President Kenyatta issued the directive on Sunday in a bid to reduce the risk of coronavirus transmission through the physical handling of money.

Now Safaricom, the country's largest telecommunication and mobile money firm, has waived fees on M-Pesa transactions below Sh1,000, a move likely to benefit millions of Kenyans fearful of contracting the deadly coronavirus from physical money.

"Safaricom PLC would like to thank the Central Bank of Kenya Governor Dr. Patrick Njoroge for hosting a meeting with Safaricom and other industry players to discuss the evolving situation around the Covid-19 (coronavirus) pandemic," said Safaricom.

To support small and micro business enterprises, Safaricom has also announced the increase of daily M-Pesa transaction limit from Sh70,000 to Sh 150,000.

"Kenyans will also be able to transact up to Sh300,000 up from the current limit of Ksh140,000, and hold up to Ksh300,000 in their M-Pesa wallets," said Safaricom chief executive Michael Joseph.

Here is Safaricom's statement released on Twitter on March 16, 2020:

https://twitter.com/SafaricomPLC/status/1239522331590098947