It's a sigh of relief to Kenyans as High Court of Kenya ordered Safaricom and the Central Bank of Kenya to suspend re-introduction of transaction cost of bank-to-mpesa cash transfer with immediate effect.
The CBK had ordered all commercial banks on December 2022 to introduce transaction cost to their customers who transfer money from bank to Mpesa effective from 1st January 2023.
This according to High Court was after a Kenyan, Mr. Moses Wafula filed application to appeal on reinstatement of the charges which had been suspended before in 2020 during COVID-19 period.
Wafula claimed that his rights and that of other Kenyans had been violated and continued to be threatened by Safaricom and government in view of following Central Bank of Kenya directives.
According to him charges incurred between Mpesa and banks are to be paid by Safaricom’s primary clients such as banks and not by consumers. Through thorough investigation, High court concluded that the transaction cost imposed on January were illegal and should be withdrawn with immediate effect.
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