Tax on Mobile Money in Cameroon
Cameroonians will have to pay 4 Francs extra for any mobile money transactions done beginning this January 1, 2025.
Going by the SMS alert sent by the two main mobile telephony companies in Cameroon (MTN, and Orange), the Cameroon government has imposed a 4 Francs tax on any mobile money transactions.
“Dear customer, following the 2025 financial law, transfer and withdrawal rates will increase by 4F per transaction as from 1 January.Thanks for your loyalty,” and Orange SMS alerted.
This comes barely a year after Cameroonians were imposed of a 0.2% taxes on all mobile money transactions in 2024.
“Law of Finance for 2025: Transfer and withdrawal fees include a 0.2% tax on the transaction amount, plus now a fixed fee of 4 FCFA per transaction,” an SMS alert from MTN explains.
Shortly after defending the 2025 finance bill in December 2024, the Minister of Finance indicated that this year will see no tax increase. Cameroonians worry that the minister lied and fear the worst is yet to come.
“So did (Louis Paul) Motaze lie? He said no new taxes will be introduced in 2025. 1st day of January, there is an increment of 4% on MoMo charges. Wonders shall never end,” an angry Cameroonian laments on WhatsApp.
An economic expert indicated that the Cameroonians should be ready for more tax increments going by the new tax regime.
“The additional tax on mobile money transactions is just one among many Cameroonians will witness this 2025. The government has an ambitious budget of three trillion CFA francs. Considering that the government only attained less than 50% revenue from the budget it aimed at in 2024, it has now increased the alternative sources of generating internal revenue, which of course taxes is the main streamline. So Cameroonians should prepare for the worse, while hoping for something better,” Ewane Thomas, an Economist explained.
This increase comes barely weeks after brewery stakeholders increased the prices of beer and other brewing products. The government also imposed personal income taxes to all Cameroonians in the country.
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