It cut the cost of sending money for transactions below Sh15,000 but failed to comment on withdrawal charges.
Safaricom said the Sh9 billion six-month hit saw the firm report a six per cent drop in net profit to Sh33.07 billion—the first fall in nine years.
Safaricom has cut low value M-Pesa transaction fees by up to 45 per cent in line with a deal agreed with the Central Bank of Kenya (CBK) that ended free mobile phone money transactions of up to Sh1,000.
It will now cost Sh6 to send between Sh101 and Sh500, down from Sh11. Transactions of between Sh1,501 and Sh2,500 will cost Sh32, down from Sh41.
