Safaricom on Saturday announced an adjustment in the pricing of its services following the passing of the Finance Act 2023 and the lifting of the suspension of the Act.
In a statement, the telco said that it had adjusted M-Pesa, call, data, SMS and home fibre charges to align with the revised excise duty in the Finance Act 2023.
This means that mobile money transfer charges are going up while charges on call, data and SMS charges are going down.
“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%.”
On Friday, the Court of Appeal has overturned an order made last month suspending the implementation of the 2023 Finance Act after Treasury CS Prof Njuguna Ndung’u argued that the government was losing half a billion shillings a day as a result of the freeze.
A three-judge bench of the Court of Appeal lifted the suspension placed on 30 June, pending the determination of an appeal filed by Prof Ndung’u.
The CS moved to the Court of Appeal through Attorney-General Justin Muturi, arguing that the government would lose about Sh211 billion in the current financial year.
