RBM yet to engage mobile phone operators

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By Christy Gomani

The Reserve Bank of Malawi (RBM) is yet to engage mobile phone operators on calls for the suspension of fees charged on mobile money transactions.

Some two weeks ago, RBM promised to engage the operators towards reversing their decision.

In April this year, RBM ordered the removal of fees charged when sending money using the mobile wallet on Airtel money and TNM Mpamba platforms.

The suspension was effected due to the impact of the Covid-19 pandemic.

But as the coronavirus continues to take its toll, the public has learnt with sadness of the reintroduction of the charges by Airtel since August 1st and that of TNM, effective August 3.

According to the operators and RBM, this is because the agreement they made was for only three months.

Asked as to how far they have gone with the engagements, the Central Bank through its spokesperson Onellie Nkuna said the engagement process is still ongoing at the moment.

Nkuna was also not forthcoming as to when the cautioning measures will be reintroduced.

Recently, the Economics Association of Malawi also called for RBM and other financial sectors to extend the moratorium on interests arguing the pandemic has directly hit on the welfare of the citizenry.


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