Africa’s two biggest mobile money markets – Kenya and Ghana – were early movers to scrap fees on mostly smaller transactions soon after the pandemic hit in early 2020. Other African nations soon followed with fee limits and mobile money tax relief.
Regulators and central banks in more than 20 African countries paused or reduced mobile money taxes while raising limits and imposing transaction fee restrictions or waivers on mobile service providers.
Côte d’Ivoire, Senegal, Rwanda, Malawi, Uganda, Kenya, Nigeria, Gambia, Mali, the Democratic Republic of the Congo, Liberia, Egypt, Morocco were just some of the countries to impose controls designed to empower millions of mostly person-to-person (P2P) and cash-to-wallet retail mobile money users at the height of the pandemic.
Eighteen months on, certain governments have reintroduced or increased mobile money taxes to help replenish pandemic
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