Home » Safaricom Announces Pricing Adjustment Following Enactment of Finance Act 2023 and Court Ruling

Safaricom Announces Pricing Adjustment Following Enactment of Finance Act 2023 and Court Ruling

by Samantha
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Safaricom has announced an adjustment in pricing for its services following the enactment of the Finance Act 2023 and the lifting of the suspension on the law.

In a notice dated July 29, 2023, the telco said, “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%.”

The telco has stated that details of changes in pricing are available on its website, app, and different USSD codes, including *100#, *200#, and *544#.

The Court of Appeal lifted conservatory orders barring the implementation of the controversial Finance Act 2023 on Friday.

The appellate court ruled that the government, who appealed the suspension through the Treasury Cabinet Secretary Njuguna Ndungu, has satisfied the twin principles to warrant the grant of the orders sought.

“We are persuaded that the applicants have satisfied the twin principles for the grant of the orders sought, and that, public interest tilts in favor of setting aside the conservatory orders by the trial Judge,” reads the ruling.

The court noted that there will be serious irreversible economic consequences if the stay of the conservatory orders were not granted.

The three judges led by Mohammed Warsame, Kathurima M’inoti, and Hellen Omondo said that the appeal will be heard and determined within 60 days.

The High Court, on June 30, suspended the implementation of the Finance Act 2023, pending the determination of a petition filed by Senator Okiya Omtatah and six other activists.

Treasury Cabinet Secretary Prof Njuguna Ndung’u moved to the Court of Appeal arguing the suspension is affecting government operations.

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