Free bank to M-Pesa cash transfers rise to Sh3.7trn as waiver remains

SAFARICOM

Safaricom CEO Peter Ndegwa. PHOTO | DIANA NGILA | NMG

The value of free cash transfers between bank accounts and Safaricom's M-Pesa mobile wallets rose by half to Sh3.73 trillion in the six months to September as zero rating of fees continued to drive usage.

These transactions accounted for a fifth of the total value of M-Pesa deals of Sh18.09 trillion in the review period, Safaricom said on Friday when releasing its half year results.

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Note: The results are not exact but very close to the actual.