The High Court has ordered Safaricom and the central bank to halt re-introduction of charges on transactions made between mobile money wallets and lenders pending determination of a suit involving financial consumer rights.
The order comes after a Kenyan, Moses Wafula, filed an application challenging the reinstatement of the charges after they were suspended in 2020 due to Covid-19. He claims that the charges should not be passed to consumers.
While asking the court to halt the charges, Mr Wafula argued that should the court find that the M-Pesa charges are illegal, more funds from members of the public will have been lost and it may be difficult to ask banks to refund the same