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The Standard Group Plc is a
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Leading telecommunications service provider has reported a drop in revenue for the first time as the COVID-19 global pandemic continues to bite.
Profit after tax fell six per cent to Sh33b, down from Sh35 billion the previous year with the slump attributed to lower M-Pesa earnings following the Central Bank of Kenya's directive to remove fees on transactions less than Sh1,000. M-Pesa revenue fell by Sh6.1 billion while income from betting saw a Sh700 million-drop.
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