As the new year begins, Safaricom has updated M-Pesa charges for both sending and withdrawing money.
The changes, effective January 1, 2025, are aimed at enhancing transparency and convenience for customers.
Sending Money Charges
The cost of transferring money via M-Pesa has been standardized across networks. Transfers to Airtel Money and Telkom’s T-Kash now cost the same as Safaricom-to-Safaricom transactions.
However, transfers to unregistered users have been discontinued to curb fraud and money laundering.
For instance, sending Ksh1,000 costs Ksh13, regardless of the recipient’s network.
Below is a detailed breakdown of the charges:
| Amount to Send | To Safaricom (Fees) | To Airtel/Telkom (Fees) |
|---|---|---|
| Ksh1 – Ksh49 | Free | Free |
| Ksh50 – Ksh100 | Free | Free |
| Ksh101 – Ksh500 | Ksh7 | Ksh7 |
| Ksh501 – Ksh1,000 | Ksh13 | Ksh13 |
| Ksh1,001 – Ksh1,500 | Ksh23 | Ksh23 |
| Ksh1,501 – Ksh2,500 | Ksh33 | Ksh33 |
| Ksh2,501 – Ksh3,500 | Ksh53 | Ksh53 |
| Ksh3,501 – Ksh5,000 | Ksh57 | Ksh57 |
| Ksh5,001 – Ksh7,500 | Ksh78 | Ksh78 |
| Ksh7,501 – Ksh10,000 | Ksh90 | Ksh90 |
| Ksh10,001 – Ksh15,000 | Ksh100 | Ksh100 |
| Ksh15,001 – Ksh20,000 | Ksh105 | Ksh105 |
| Ksh20,001 – Ksh35,000 | Ksh108 | Ksh108 |
| Ksh35,001 – Ksh50,000 | Ksh108 | Ksh108 |
| Ksh50,001 – Ksh250,000 | Ksh108 | Ksh108 |
The maximum transaction limit is Ksh250,000, with a daily cap of Ksh500,000.
Withdrawal Charges
Withdrawal fees remain higher than sending charges. For example, withdrawing Ksh1,000 costs Ksh29 compared to Ksh13 for sending the same amount.
Below is the updated withdrawal fee structure:
| Withdrawal Amount | Withdrawal Charges |
|---|---|
| Ksh1 – Ksh49 | N/A |
| Ksh50 – Ksh100 | Ksh11 |
| Ksh101 – Ksh500 | Ksh29 |
| Ksh501 – Ksh1,000 | Ksh29 |
| Ksh1,001 – Ksh1,500 | Ksh29 |
| Ksh1,501 – Ksh2,500 | Ksh29 |
| Ksh2,501 – Ksh3,500 | Ksh52 |
| Ksh3,501 – Ksh5,000 | Ksh69 |
| Ksh5,001 – Ksh7,500 | Ksh87 |
| Ksh7,501 – Ksh10,000 | Ksh115 |
| Ksh10,001 – Ksh15,000 | Ksh167 |
| Ksh15,001 – Ksh20,000 | Ksh185 |
| Ksh20,001 – Ksh35,000 | Ksh197 |
| Ksh35,001 – Ksh50,000 | Ksh278 |
| Ksh50,001 – Ksh250,000 | Ksh309 |
The maximum withdrawal amount per transaction is Ksh250,000, while withdrawals below Ksh50 are not permitted.
M-Pesa Growth and Achievements
In 2024, M-Pesa experienced significant growth:
- Customer Base: 34 million active users by December 2024.
- Transaction Volume: Increased by 30.6% to 17.09 billion transactions.
- Revenue: Grew 16.6% year-on-year to Ksh77.22 billion.
- Agents: Expanded to 266,071 nationwide.
- Merchants: Reached 658,669 Lipa Na M-Pesa merchants.
Notable initiatives, such as Lipa Mdogo Mdogo, enabled 1.6 million Kenyans to acquire their first smartphones.
Additionally, Safaricom disbursed $4.37 billion in affordable credit to over 7.5 million customers and 52,000 merchants.
As M-Pesa continues to enhance its services, these updates reflect its commitment to convenience and transparency while addressing customer concerns.
