Mobile Money in Africa: Great Opportunity with Potential Risk

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3Q 2014 | IN-1019730

MTN Increases Withdrawal Charges

NEWS


In early July of this year, MTN Uganda announced that it would increase its mobile money withdrawal charges. The largest mobile operator in Uganda explained that the increase was due to the 10% tax introduced by the Ugandan government. According to Ugandan finance minister, Maria Kiwanuka, the levy was imposed to help the government’s revenue stream. A similar levy was introduced 2 years ago, but no taxes were paid to the government. Prior to the announcement, the withdrawal charges were 300 Uganda Shillings (US$0.11). The sum would increase by 10% to 330 Uganda Shillings by August 1st.

Mobile Money’s Growing Popularity

IMPACT


MTN’s closest rival, Airtel, admitted that no taxes were paid to the government before this, as mobile operators were reluctant to transf...

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