Tanzania: Government Cuts Mobile Money Transaction Charges by 30pc

Tanzania’s Government has reduced mobile money transaction levy by 30 percent. A press statement issued by the Ministry of Finance and Planning Tuesday stated that Minister Mwigulu Nchemba has already signed the review of the charges.

In addition, the Government held a meeting with mobile service providers, who have unanimously agreed to cut down mobile money interoperability rates by 10 percent.

Following concerns and views from the public, claiming that the deductions were too high, President Samia Suluhu Hassan directed two Ministers (Finance and Planning Minister and Minister for Communications and Information Technology) to sit down and work on the matter.

The statement added that newly reduced rates will be officially announced in the Government Gazette tomorrow, (1st Sept, 2021). “Also, the Government held a meeting with mobile service providers, who have unanimously agreed to cut down mobile money interoperability rates by 10 percent,” it stated.

Mobile money interoperability refers to transfers between customers of different mobile service providers. The Government, according to the statement, was optimistic that the decisions will give relief to the citizens and enable the State to collect revenue for execution of various development projects in accordance to the 2021/2022 National Budget.

The recent data shows that Government has managed to collect 48,4bn/- since when the new levy was introduced.