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Court suspends reintroduction of Bank M-Pesa charges

Court suspends reintroduction of Bank M-Pesa charges

Business

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The return of bank-to-MPesa fees has been put on hold by an injunction from the High Court given to Safaricom and the Central Bank of Kenya.

The decision was taken in response to a request made by a man by the name of Moses Wafula, and it was made by Judge Mugure Thande of the Milimani Law Court.

The court issued the instructions on Thursday in advance of the petition against the return of the fees by mobile money operators being heard and decided.

Court proceedings on the matter are scheduled for January 23, 2023.

Moses Wafula, the plaintiff in the lawsuit, asserts that reinstatement fees for bank and mobile wallet transactions violate both his rights and the rights of the general public.

According to court documents, "The Applicant contends that the 1st Respondent herein and the Government of Kenya have violated, infringed, and continue to threaten his rights and the rights of other members of the public in light of the directive issued by the Intended 3rd Respondent on December 6, 2022."

Following a letter from the Central Bank of Kenya that the charges would be reinstated as of January 1, 2023, the petition was submitted last year.

The petition was submitted last year in response to a Central Bank of Kenya notification that the fees would be reintroduced as of January 1, 2023.

The transaction fees were removed in March 2020 as a result of Covid-19's urgent measures to reduce living costs.

According to a press release from CBK on December 6, the new rates would be lower than the fees that were in existence prior to the emergency measure.

According to CBK, the average maximum fees for transfers from bank accounts to mobile money wallets will be decreased by 61 percent, and from a mobile money wallet to a bank account would be reduced by 47 percent.

Tags:
Mpesa Safaricom Central Bank Moses Wafula
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