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%.”
Read: Appellate Court Declines to Lift Suspension of Implementation of Finance Act 2023
On Friday, the Court of Appeal overturned an order made last month suspending the implementation of the 2023 Finance Act after Treasury Cabinet Secretary 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.
The Court of Appeal on Friday lifted an order suspending the implementation of the Finance Act, 2023.
Read Also: Safaricom Rolls Out Faraja Loans for Customers Purchasing via Lipa Na M-Pesa
The appellate court ruled that the government, which appealed the suspension through Ndungu, satisfied the twin principles to warrant the grant of the orders sought.
Justice Mohamed Warsame, Kathurima M’Inoti and Hello Omondi had set the date of ruling after Ndungu said the suspension of the act is affecting government operations.
Ndungu pleaded with the court saying there will be a budgetary crisis if the order is not lifted.
The court noted that there will be serious irreversible economic consequences if the stay of the conservatory orders is not granted.
Read Also: Safaricom Advises Customers to Make M-Pesa Transactions Via USSD Code
The three judges said that the appeal will be heard and determined within 60 days.
Chief Justice Martha Koome has already appointed a three-judge bench that will hear and determine the case challenging the implementation of the Finance Act, 2023 filed by Busia Senator Okiya Omtatah.
The three are justices David Majanja, Lawrence Mogambi and Christine Meoli.
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