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Treasury plans to raise excise duty to 12 per cent from current 10 per cent

Sateesh Kamath Chief Financial Officer Safaricom speaks when Safaricom Announced Un - Audited results for the half year ended 30th September 2017. PHOTO:WILBERFORCE OKWIRI

Safaricom has spoken for the first time since the Treasury increased taxes on mobile money transfer, saying the move will hurt the financial service.

The firm, which has the biggest market share of the mobile money sector, says it recognises the Government’s need to collect additional taxes, but the hike will have a negative impact on the sector.

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