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Equity picks a new fight with Safaricom over M-Pesa fees
Safaricom chief executive Bob Collymore (left) and Equity CEO James Mwangi. PHOTOS | FILE
Equity Bank Group has written a protest letter to the Central Bank of Kenya (CBK) objecting to Safaricom’s intended increase of charges on bank-to-MPesa transfers, which once effected will raise fees charged on Equitel — its mobile banking service.
Safaricom has been charging banks a flat rate of Sh33 for customers who move money from their bank accounts to their own M-Pesa accounts or those of third parties.
