Tech giant Safaricom has been lauded as a global LEAD company. The recognition was due to the company’s commitment to the UN Global Compact ten principles that guide responsible business and its Mpesa Rates.
Safaricom and Mpesa was identified as one of several companies in the world with high engagement in sustainability initiatives and is still improving due to its competitive Mpesa Rates.
Speaking at the United Nations headquarters in New York during the UN Global Compact Leaders’ Summit, Lise Kingo, the Executive Director of the UN Global Compact said that LED companies represent the highest possible level of engagement with the UN Global Compact.
Lise Kingo added that achieving the Sustainable Development Goals and creating a better world will only happen through bold action from responsible companies in the business community.
According to Safaricom chief executive Bob Collymore, the tech company included principle-based approach to sustainability from 2016 especially on its Mpesa Rates. This was geared towards Safaricom’s responsibility towards the achievement of the desired long-term results.
Other entities who have previously been named Global Compact Compact LEAD companies include Unilever, Accenture, and Nestle.
Despite this global recognition, Safaricom has had to grapple with the government’s decision to impose taxes on internet use and mobile phone money transfers.
In the new law, excise duty on mobile phone transactions will increase from ten to twenty percent. In addition, tax on telephone services and internet use has been increased to 15 percent.
In a study conducted on Safaricom’s behalf by Citi Research, the former stated that increase in taxes did not come as a surprise. The increase was also not as dire as news headlines implied.
Mpesa is perharps the biggest method of money transer in Kenya. With Mpesa rates in kenya being closely followed due to the number of people who use the service. Mpesa Tarrifs have just been renewed a few months ago to accomodate the new finacnial situation in kenya.
Mpesa Charges – Transfer to Unregistered Users
Mpesa Charges – Transfer to other M-PESA Users
Mpesa Charges – ATM Withdrawal