Kenyans may now breathe easier as the High Court of Kenya ruled that the transaction cost for bank-to-mpesa cash transfers must be suspended immediately by both Safaricom and the Central Bank of Kenya.
From December 20, 2022, the CBK issued an order requiring all commercial banks to start charging transaction fees to consumers who use Mpesa to send money from their bank accounts to their mobile wallets on January 1, 2023.
Wafula alleged that the government and Safaricom had violated his rights and those of other Kenyans and had threatened them because they had complied with instructions from the Central Bank of Kenya.
He asserts that Safaricom's principal clients, including as banks, should be responsible for paying any fees associated with Mpesa, not individual users. The High Court came to the conclusion that the transaction fees imposed on January were unlawful and should be rescinded right away after conducting a comprehensive inquiry.
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