Malawi Government Drops Plans for Mobile Money Tax

After proposing a 1% tax on mobile money transactions, the Malawi Ministry of Finance officially dropped its plan after facing criticism from mobile network operators (MNO) and consumer rights organizations. The CEO of Telekom Networks Malawi (TNM), the country's largest MNO, as well as the Consumer Association of Malawi strongly expressed their disdain for the imposition of a tax as a devastating blow to the unbanked, the poorest members of society, and threaten to stifle the reach of digital financial services in a country that is predominantly cash-based.

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