Losses: Safaricom, business banks in Kenya make plans to Finish Free Cell Cash Transfers


Telco big, Safaricom and business banks in Kenya are negotiating with the Central Financial institution of Kenya (CBK) to cease a zero-rated coverage on cellular cash transactions which was launched to cushion the impacts of the COVID-19 pandemic.

The telecom firm and banks are looking for a take care of the CBK that may see the regulator seek the advice of them if it decides to increase free cellular cash transfers past December 31. 

Telcos and banks have been dropping tens of millions after the directive was prolonged from March to December 31st. The measure said that there could be a free transaction for something much less that KSh 1,000.

Safaricom just lately printed its unaudited monetary outcomes for the six months ended September 202business b0. Going by knowledge from the H1 2021 report, M-Pesa’s income declined Y-o-Y by 14.5% from $385 million to $329 million.

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