Mobile money taxation could hamper financial inclusion gains in Africa -Mobile money services have transformed the lives of many people across the African continent but taxation policies pose a significant... -
Mobile money services have transformed the lives of many people across the African continent but taxation policies pose a significant challenge to the financial inclusion gains made by these innovations
“While many countries have embraced mobile money services, mobile money taxation can have unintended consequences for the people who stand to benefit significantly from these platforms”, says Stephen Chege, Group Chief Officer for Regulatory & External Affairs at Vodacom Group.
Where the tax burden is too high, there is a chance that providers will limit their investments, reducing mobile money penetration, leading to lower customer usage on the continent and consequently, the socio-economic benefits derived from these platforms.
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