Mpesa rates for sending or receiving money change from time to time. The rates or fees charged by Safaricom is regulated by the Central Bank of Kenya just like it regulates bank fees levied on customers by all banks in Kenya.
In early March 2020, the Central Bank of Kenya placed a waiver on Mpesa rates on all transactions by customers of less than Ksh.1,000 or less. This was an attempt by the Kenya national government to alleviate difficulties faced by Kenyan customers during the covid-19 pandemic. Since Mpesa is a cashless system in which users use their phones to purchase or make payment for goods and services, it was a very good way to initiate social distance to stem the spread of coronavirus.
Mpesa also acts as a mobile wallet for Kenyans hence preventing a need to get out to conduct transactions at banks. This worked well for the government and customers alike during such a time when it was prudent for people to stay at home to prevent the transmission of covid-19.
Current Mpesa Withdrawal Rates from an Mpesa Agent
The table below shows the 2020 Mpesa rates charged by Safaricom when withdrawing Money from an Mpesa agent. This list is up to date as of June 24, 2020.
| Min (Ksh) | Max (Ksh) | Mpesa Rates (fees) |
| 1 | 49 | N/A |
| 50 | 100 | 10 |
| 101 | 500 | 27 |
| 501 | 2,500 | 28 |
| 2,501 | 3,500 | 50 |
| 3,501 | 5,000 | 67 |
| 5,001 | 7,500 | 84 |
| 7,501 | 10,000 | 112 |
| 10,001 | 15,000 | 162 |
| 15,001 | 20,000 | 180 |
| 20,001 | 35,000 | 191 |
| 35,001 | 50,000 | 270 |
| 50,001 | 150,000 | 300 |
Mpesa Rates for transering money from one Mpesa user to another Mpesa user
The table below show the Mpesa fees charged to a sender when transfering money from one Mpesa line to another Mpesa line. These charges are accurate as of June 24, 2020.
| Min.(ksh) | Max. (ksh) | Mpesa Rates (fees) |
| 1 | 49 | Free |
| 50 | 100 | Free |
| 101 | 500 | Free |
| 501 | 1,000 | Free |
| 1,001 | 1,500 | 26 |
| 1,501 | 2,500 | 41 |
| 2,501 | 3,500 | 56 |
| 3,501 | 5,000 | 61 |
| 5,001 | 7,500 | 77 |
| 7,501 | 10,000 | 87 |
| 10,001 | 15,000 | 97 |
| 15,001 | 20,000 | 102 |
| 20,001 | 35,000 | 105 |
| 35,001 | 50,000 | 105 |
| 50,001 | 150,000 | 105 |
Mpesa Increases the Maximum Allowed Transaction Amount
In early March 2020, Safaricom increased the allowed maximum transaction amount from back then Ksh. 70,000 to a maximum of Ksh. 150,000 per day. This was done to facilitate the easy of doing business in Kenya after the first case of Covid-19 was confirmed in the country. World Health Organization (WHO) had early declared Covid-19 a pandemic and hence encouraged social distance among people whenever in public.
Mpesa is the most preferred method of conducting transactions in Kenya especially in the Small and Medium Enterprise (SME). The system is so efficient that it completely renders a need to register a bank account unnecessary. Currently, there are more than 26 million Mpesa registered customers in Kenya alone and more than 300,000 Mpesa agents nationwide. This is nearly 60% Mpesa subscription rates within Kenya.
Mpesa is also used in neighboring countries including Tanzania, Uganda, Rwanda as well as in Burundi. In 2013, there was an attempt to introduce Mpesa in India but after six years, Mpesa folded and exited the Indian market altogether in 2019.
Mpesa is owned by Safaricom whose parent company is Vodafone Group PLC. Vodafone is a British multinational telecommunication company whose headquarters is in Berkshire, in the United Kingdom. In financial year 2019, Vodafone raked in 44 billion euros in revenue.
Other than Safaricom, other Vodafone Group PLC subsidiaries include Vodafone Germany, Vodafone Australia, Vodafone Turkey, Vodafone Italia, Vodafone Egypt, Vodafone Ireland, Vodacom, Vodafone Romania, Vodafone Malta, Vodafone Hungary,ONO, to name but a few.
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