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Safaricom protests over KES 19 bln revenue loss by year-end caused by M-Pesa fee waivers

Monday 3 August 2020 | 10:26 CET | News
Safaricom has criticised the Central Bank of Kenya (CBK) for extending the period for free M-Pesa transactions without consulting it, according to Business Daily. The operator says it will lose KES 19 billion in revenue by the end of the year to the fee waivers. Outgoing chairman Nicholas Ng'ang'a told the virtual AGM that it has suffered from unilateral decisions made by regulators. Ng'ang'a did not mention specific regulators but Business Daily says the context of his speech points to the CBK, which oversees its mobile money service and has been spearheading financial relief for the public

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Categories: Mobile & Wireless
Companies: Safaricom
Countries: Kenya
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