Following the implementation of the Finance Act, 2022, has led Safaricom to increases the prices of it products(SIM Cards and Phones). According to the company SIM Cards will now cost customers Ksh100 compared in the past where the customers were only to buy Ksh50 airtime to get their SIM Cards activated.
Initially the SIM Card was free but as for now customers will be required to purchase the SIM Card at Ksh50 and then buy KSh50 airtime for the activation, which gives a total of Ksh100. The company also made an announcement that the prices for imported phones it deals in would gradually go up as it clears it stock.
The company did so as to reflect a 10% tax launched in the Financial Act and 25% import duty introduced by the East African Community(EAC) under Common External Tarrif. The company also added that, “Phone prices will be adjusted to include the 10% excise tax and 25% import duty as existing stock levels are replaced with new stock on which the new taxes apply.”