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Safaricom loses bid to cap free M-Pesa transactions
The telecoms operator petitioned the Central Bank of Kenya (CBK) to cap the number of multiple transactions between two numbers, according to a recent disclosure of conference call transcripts between Safaricom and investors. FILE PHOTO | NMG
Safaricom #ticker:SCOM lost the bid to cap the free M-Pesa transactions to five per user after subscribers split high-value transfers to avoid paying transfer fees, costing it billions of shillings in revenues.
The telecoms operator petitioned the Central Bank of Kenya (CBK) to cap the number of multiple transactions between two numbers, according to a recent disclosure of conference call transcripts between Safaricom and investors seen by the Business Daily.
