The Central Bank of Kenya (CBK) has rejected bankers’ push to reinstate fees on transfer of cash between accounts and mobile phone wallets, even as it ended free M-Pesa transactions of up to Sh1,000.
The banking regulator yesterday offered relief to Safaricom after it opted not to extend the waiver of charges on M-Pesa transactions—which had cost telecommunications firm Sh9 billion in the six months to June.
