The latest Safaricom MPesa charges are raising eyebrows amid the enactment of the controversial Finance Bill. Transaction charges are expected to go even higher in a tense economy.

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Kenya’s Court of Appeal recently lifted the suspension of the Finance Act, 2023. A formal application from Treasury CS Prof. Njuguna Ndung’u occasioned the freezing of Okiya Omtatah’s petition.

Latest Safaricom MPesa Charges 2023

The new MPesa charges increased from 12 per cent to 15 per cent effective July 29, 2023.

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Safaricom PLC released the following statement ahead of implementation.

“Effective 29th July 2023, we will be reviewing our call, SMS, data, fiber, M-PESA pricing to reflect the increase in the excise duty rate on fees charged on mobile money transfer services from 12% to 15% and the decrease in excise duty rate in telecommunication services (call, SMS, data and fibre) from 20% to 15%.”

MPesa Statement.

Content creators will as well pay 5% higher in withholding tax.

1. Updated M-PESA Transaction Charges

The revised M-Pesa tariffs are as follows;

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Transfer to registered MPesa users

2. Withdrawal from M-PESA Agents

3. Transfer to Other M-PESA Users

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This includes transferring to Pochi la Biashara and from a Business Till to a customer.

4. Transfer to unregistered users

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5. ATM Withdrawal

6. Other Charges

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Users can as well access the latest Safaricom MPesa charges by dialling *334# or through My Safaricom App.