Cameroonians in despair as 0.2% mobile money tax goes operational

A 0.2% tax on mobile money operations in Cameroon has gone operational.

Mobile service providers today informed customers they’d have to pay 0.2% of the sums they intend to transact henceforth. This adds to what customers had already termed high charges for withdrawing money from their mobile money accounts.

The imposed tax is one of many stipulations found in a 2022 tax bill signed into force by the head of state, President Paul Biya.

Unlike the controversial mobile phone tax repealed last year, the mobile money tax was this year ‘smuggled’ into force, with citizens barely informed of the details and implementation progress.

Callbox operators too have expressed disappointment with the decision, noting that it rips off most of their anticipated profits.

“Sadly, some of us and our families survive in this country by doing call box business and the same government that can’t give us jobs intrudes into the business taking away more than 90% of the profit we make,” said a call box operator who opted for anonymity.

“… Imagine if you have to transfer one million FCFA, be ready to pay 2,000 FCFA fees of which the profit you make is 2,100 FCFA. At the end of the day, you are left with 100 Francs CFA,” added the operator.

The government has remained mute on the said tax, leaving citizens to bear the burden.