-
Safaricom Blames Regulator for Underinvestment by Kenyan Rivals
Kenyan lawmakers are studying a report by U.K.-based advisory group Analysys Mason that found Safaricom to be a dominant player in mobile money and mobile communications.
- Region
- Sub-Saharan Africa
-
Telecoms, Bank of Uganda want mobile money tax scrapped
Starting July 1, 2018 government introduced a 1% tax on all mobile money transactions and Shs 200/daily levy on social media usage. Following public outcry and pressure, government has since tabled an amendment bill, Excise Duty Amendment Bill No. 2, 2018 to have the mobile money tax reduced to 0.5% and only limited to withdrawals.
- Categories
- Inclusive Fintech
- Region
- Sub-Saharan Africa
-
Uganda’s mobile money use drops by $182 million in two weeks
Mobile Money use fell by more than half a trillion Shillings following the introduction of tax on the transactions, Bank of Uganda (BoU) has said.
- Categories
- Inclusive Fintech
- Region
- Sub-Saharan Africa
-
Jack Ma’s fintech startup shakes up China’s banks
Ant Financial Services Group, founded by Chinese billionaire Jack Ma, has become the world's biggest financial-technology firm, driving innovations that let people use their phones for buying insurance as easily as groceries, enabling millions to go weeks at a time without using physical cash. That success is also putting a target on the company's back.
- Categories
- Inclusive Fintech
- Region
- Asia Pacific
-
Industry body seeks government intervention to tame errant microfinance practitioners in Sri Lanka
LMFPA aims to self-regulate its 76 members through the code of conduct, particularly avoiding over indebtedness, maintaining transparency, promoting good recovery practices and maintaining healthy competition. Nafeer noted that an independent board would investigate the complaints lodged against its members and will take punitive action against errant members by terminating their membership if they continue to breach the code of conduct and same will be advertised in print media to inform the public.
- Region
- South Asia
-
Sri Lanka Finance Minister Announces Cap on Microfinance Interest Rates
A cap on interest rates charged by micro-finance companies has been a long-term demand of groups agitating against exploitative loan schemes targeting the country’s poorest people.
- Region
- South Asia
-
Uganda drops some mobile money taxes
Uganda's Cabinet, despite having been previously divided on the charges, on Monday agreed to remove some of the fees and revised the 1 per cent tax on withdrawals to 0.5 per cent.
- Categories
- Inclusive Fintech
- Region
- Sub-Saharan Africa
-
Uganda President Museveni orders refund of mobile money ‘error’ tax
In a statement issued on Facebook, Museveni insists that the 1 per cent tax which he ordered to be reduced to 0.5 percent last week was passed in error and he signed the bill knowing it had an error.
- Region
- Sub-Saharan Africa
- Tags
- fintech, mobile money, regulations, social media, taxes, Uganda
Parent Organization
