Safaricom adjusts M-Pesa, call, data & SMS rates as Finance Act 2023 comes into effect

Kenya’s leading telecommunications company, Safaricom has adjusted the charges for its various products and services after the Court of Appeal lifted the suspension of the Finance Act 2023.

Data, fibre, call and Short Message Service (SMS) charges have all been reviewed downwards following the decrease in excise duty rate in telecommunication services from 20% to 15%.

The enactment into law of the Finance Act 2023 has also seen the excise duty rate on fees charged on mobile money transfer services reviewed from 12% to 15%.

Safaricom announced that consequently, it has also reviewed its charges to be aligned with the same.

"Following the enactment into law of the Finance Act 2023 and the Court of Appeal ruling on 28th July 2023, effective 29th July 2023, we will be reviewing our call, SMS, data, fibre, M-Pesa pricing to reflect the increase in excise duty rate on fees charged on mobile money transfer services from 12% to 15% and the decrease in excise duty rate in telecommunication services (call, SMS, data and fibre) from 20% to 15%." Read the statement in part.

The company added that details of the charges can be obtained from its website and app.

They can also be accessed using USSD codes, including *100#, *200# and *544#.

Safaricom announces changes in M-Pesa, call, data & SMS charges Safaricom announces another interruption of Mpesa services this weekend ece-auto-gen

The Court of Appeal set things in motion after yesterday's ruling in which it set aside orders barring the implementation of the Finance Act 2023.

The three-judge bench of Justice Mohamed Warsame, Kathurima M'Inoti and Hello Omondi set aside the conservatory orders by the trial Judge is in favour of public interest.

"The upshot of our decision is that the application has merit and the same is allowed as prayed with the effect that the order made on July 10, 2023, suspending the Finance Act 2023, and the order prohibiting the implementation of the Finance Act 2023, be and is hereby lifted pending the hearing and determination of the appeal," the judges ruled.

With this development, tax payers are now set for tougher times as they dig deeper into their pockets to fund government operations.

Coming at a time when prices of basic commodities have sky-rocketed, the Finance Act 2023 was opposed by many Kenyans who noted that it will only make things worse for them, given the prevailing economic situation.