The GSMA, the global telecommunications industry body, is working to lobby African governments to create mobile money policies that produce long-term revenue streams for state coffers.
But the growth of mobile money has seen regulators starting to introduce controls or taxes on these platforms. MTN is already dealing with mobile money taxes in Ghana, Benin and Cameroon, while Vodacom is feeling the effects of such moves in Tanzania. “It’s a very short-term policy solution to fill a budgetary gap or to bring in revenue for different priorities, but what it’s doing is worsening the financial exclusion and exacerbating a poor economic situation.
While increased regulation of mobile money makes sense in countries where mobile money is growing, SA is still a small market in this regard.
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