Telkom Kenya on Friday reviewed tariff rates for its mobile money unit, T-Kash.
In a statement, Telkom said all Person-to-Person transactions below Sh100 in will not be charged.
T-Kash tariffs within the “send to registered off-net” category, in the Sh101-500, Sh501-1,000 and Sh1,501-2,500 transaction bands have also been reduced.
These are the applicable tariffs effective March 5:
101-200 Sh 5
201-500 Sh 5
501-1000 Sh 12
1501-2500 Sh 32
The daily T-Kash limit per transaction will remain at Sh150,000, with the daily sending limit being retained at Sh300,000 with a wallet limit access of Sh300,000.
Any transactions between Sh50,000 up to Sh300,000 will attract a rate of Sh100. All other fees remain unchanged.
The tariffs had been waived in 2020 due to the Covid-19 pandemic, with the view of encouraging the use of mobile money and other forms of cashless payments.
In April 2020, the telco shut down 90 percent of its mobile money agent network in a bid to “ramp up its agent numbers, armed with a more robust vetting system in place and cognizant of past learnings.”
Data from Communications Authority of Kenya (CA) then showed that Telkom had closed 24,946 of its existing 28,106 T-Kash agents at the end of 2019.
This as the telco registered a 30 per cent drop in mobile money subscribers from 27,837 to 19,607, translating to 0.06 per cent of the market segment.
“With time, and through continuous review coupled with prevailing market forces and ongoing regulatory challenges at the time, we noted that we had a number of inactive and non- performing agents,” said the company.