Finance Tax

Safaricom increases the cost of Fuliza after the finance act 2021

Safaricom has raised the cost of access to Fuliza. Image/courtesy

Safaricom subscribers will have to pay extra fees in order to access their popular soft mobile loan dubbed Fuliza.

In a message from Safaricom to its customers on Tuesday, July 6, the giant telco said it made the decision of increasing the daily interest fees on its loan after President Uhuru Kenyatta signed into law the Finance Act, 2021. 

“Dear Customer, following the signing of the Finance Act 2021, starting July 6th, 2021 Fuliza daily fees will include 20% Excise Duty. Access fees remains at 1%. Dial *234# for the revised Fuliza charges,” the message sent to Safaricom subscribers read.

Due to the passing of the same act, last week, the giant telco raised the cost of calls by 30 cents and SMS by 10 cents. It also increased the cost of fibre service.

The increase in the excise duty is meant to help the taxman collect an extra 8billion from telecommunications companies