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Wireless

Safaricom absorbs almost KES 3 bln monthly in lower transaction fees for small traders during pandemic

Monday 7 September 2020 | 11:30 CET | News
Kenyan operator Safaricom is forfeiting at least KES 2.7 billion every month in mobile money transaction fees to cushion small traders from the impact of the Covid-19 pandemic, The Star reported. Safaricom head of Enterprise Channels and SMEs John Mureithi said the waiver has seen most businesses adopt cashless transactions, ensuring business continuity. As a result, overall transactions on M-Pesa have grown by 40 percent and those on Lipa na M-Pesa by 20 percent.

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Categories: Mobile & Wireless
Companies: Safaricom
Countries: Kenya
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