Mobile payments
Cyber Security
Africa’s mobile money platforms are failing their festive stress test
With mobile money transactions peaking in December, weak encryption and simple PINs provide opportunities for cybercriminals targeting Africa's digital payments
Media often tout fintech as answer to Africa’s problems, overlooking its downsides
African headlines often praise fintech as solving the continent's economic problems, but some political economists and social theorists challenge this narrative
PostBank’s mobile wallet worthy addition to financial inclusion arsenal, says BoU deputy governor
Central Bank deputy governor advised PostBank to ensure that its Wendi platform is efficient, reliable, user-friendly, and secure to protect user data
Government considers taxing PayWay, Ezeemoney and similar platforms
The government is mooting imposing taxes on "alternative" payment platforms like PayWay, Ezeemoney, and agent banking because the recently introduced mobile money tax does not apply to them, according to the state minister for finance
Prime minister, finance minister and IMF resident representative to speak at bankers’ conference
One of the things to watch out for at the annual bankers conference is what bankers say about the new levies on mobile money transactions, especially, which have become a central feature in their digital offerings, and excise duty increases
Museveni calls 1% mobile money tax a mistake, orders for refund of deductions
First, President Museveni reduced the mobile money tax from the initial 1% of all transactions to 0.5% on transactions other than deposits. Now, he's explained his directive - calling the 1% levy a "mistake" and ordering a refund for those taxed at that rate
Mobile money dominates formal sector financial inclusion, limitations and all
Financial inclusion is low in Uganda because banks find it costly and unprofitable to extend services to rural areas. But even in urban areas, their services are expensive. Mobile money is the only financial service that has bucked those trends
Telecoms start collecting social media and mobile money taxes
The new measures, which went into effect on Sunday, include a 1% charge on every mobile money transaction and a Shs200 daily levy for the use of social media