Safaricom, Kenya’s leading telecommunications company, has announced a reduction in M-Pesa transaction fees, which is expected to increase profits for thousands of Kenyan businesses. The change comes as part of the company’s ongoing efforts to support local economic growth and improve financial services for small enterprises. M-Pesa, a mobile money platform widely used across East Africa, has long been a cornerstone of Kenya’s financial infrastructure.
The fee reduction applies to business transactions, allowing merchants and service providers to retain a larger portion of their revenue. This move is seen as a strategic step to enhance the competitiveness of local businesses in a rapidly evolving digital economy. According to Safaricom, the adjustment will directly benefit small and medium-sized enterprises that rely heavily on M-Pesa for daily transactions.
The decision has been welcomed by business leaders and financial analysts who see it as a positive signal for Kenya’s economic development. By lowering operational costs, the change could contribute to increased investment and innovation in the country’s financial sector. (peopledaily.Digital)
