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Kenya to probe telcos over high cost of mobile money transactions

Kenya’s National Treasury wants telcos to disclose all hidden charges in mobile payments. PHOTO | FILE

Kenya’s National Treasury has launched investigations into telecommunications companies it accuses of imposing excessively high rates on mobile money payments.

These rates, according to the Treasury Cabinet Secretary Henry Rotich, have caused the government to suspend its mobile-based bond trading programme, intended to promote small investors with as low as Ksh3,000 ($30) to invest.

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