NAIROBI, Kenya, Aug 3 – Airtel Kenya has said that it will not be increasing transaction charges for its Airtel Money users despite the recently passed Finance Act of 2023 increasing excise duty tax on mobile money from 12 to 15 percent.

Instead, the telco will absorb the extra cost.

“We are pleased to advise that transaction charges for Airtel Money services will remain the same,” Airtel said in a statement.

The announcement comes after its rival Safaricom increased its excise duty on M-Pesa charges to reflect the new changes.

Currently, Airtel Money users can send for free between Sh2,501 and Sh5,000, with M-Pesa customers charged Sh50.

Like Safaricom, however, Airtel has also cut voice, data, and SMS service rates from 20 percent to 15 percent starting August 1, 2023.