Home Business Local Business Safaricom adjusts M-Pesa, telecommunication charges to conform with Finance Act

Safaricom adjusts M-Pesa, telecommunication charges to conform with Finance Act

Safaricom has adjusted call, SMS, Data, Fibre and M-Pesa pricing following the enactment of the Finance Act 2023.

Effective July 29, the excise duty rate on fees charged on mobile money transfer will increase from 12% to 15%.

Channel 1

Excise duty on calls, SMS, data and fibre will decrease from from 20% to 15%.

“Following the enactment into law of the Finance Act 2023 and the Court of Appeal ruling on 28th July 2023, effective  29th July 2023, we will be reviewing our call, SMS, Data, Fibre and MPESA pricing,” Safaricom stated in a Customer Notice issued on Saturday.

The Court of Appeal on Friday has lifted an order suspending the implementation of the Finance Act, 2023.

The appellate court ruled that the government, who appealed the suspension through the Treasury Cabinet Secretary Njuguna Ndungu, has satisfied the twin principles to warrant the grant of the orders sought.

Justice Mohamed Warsame, Kathurima M’Inoti and Hello Omondi had set the date of ruling after Ndungu said the suspension of the act is affecting government operations.

Ndungu pleaded with the court saying there will be a budgetary crisis if the order is not lifted.

The court noted that there will be serious irreversible economic consequences if the stay of the conservatory orders is not granted.

The three judges said that the appeal will be heard and determined within 60 days.

Chief Justice Martha Koome has already appointed a three-judge bench that will hear and determine the case challenging the implementation of the Finance Act, 2023 filed by Busia Senator Okiya Omtatah.

The three are justices David Majanja, Lawrence Mogambi and Christine Meoli.

Website | + posts
kiico