Safaricom protests cost-free mobile money transactions

Kenyan mobile network operator Safaricom will lose around Ksh. 19 billion in revenue following a government directive for cost-free mobile money transactions in the COVID-19 period. The directive was initially given by the Central Bank of Kenya in March to encourage cashless transactions. Safaricom was consulted during the drafting of the directive, which was to run for 90 days. A report by Business Daily quotes outgoing Safaricom Chair protested the unilateral decision to extend the cost-free transactions until December 2020. The company made Sh84.4 billion Safaricom made from the M-Pesa platform in the year ended March 31, 2020.