“We are thinking about all the options,” said Njoroge when asked whether the regulator would extend the transaction fees waiver past the end-year deadline. “In terms of mobile numbers, the use of digital platforms has increased,” said Njoroge during a press briefing last week. In April this year, the CBK announced a waiver on mobile money transactions below Sh1,000 and on bank transfers to mobile to accelerate digital transactions. This is likely to be received with apprehension by digital financial service providers and banks whose earnings shrunk due to transaction fees waiver. Safaricom has been the worst hit by the fees waiver, going by the company’s latest financial results.

Source: Standard Digital December 07, 2020 07:01 UTC