Mobile Money Services : Varied Gains For All Parties

From telecom operators, enterprises and private users, everyone has a testimony on the gains brought

The advent of mobile money services in Cameroon in 2011 did not only usher in a new way of life as far as handling money is concerned but also triggered the rate of financial transactions for one reason or the other. Be it operators of the service, enterprises and private individuals, the uses and gratifications derived from the service are as varied as its gains reaped from it.  The two mobile telephone companies and one money transfer agency using mobile money services in Cameroon for the moment are certainly reaping from the service which has become very fashionable among users. For Orange mobile money, either transferring or withdrawal of money, the customer pays between FCFA 50 to FCFA 3000 depending on the amount of money in question. As far as MTN is concerned, national transfer and withdrawal transactions range between FCFA 50 to FCFA 2,500 while international transfers are within FCFA 2,500 and FCFA 15, 000 range. Though the companies were unwilling to disclose their profits derived from the service, analyst holds that they make huge sums of money from the mobile money service considering the number of subscribers for the service they have. In fact, according to Media Intelligence tracked data on the Cameroon Remittance Market, there were about 6.8 million Mobile Money subscribers as at September 2016 in Cameroon. Orange Cameroun is said to be dominating the market with 60 per cent share while MTN Cameroon occupies 35 per cent share of the market to go by MINPOSTEL. According to figures from the Ministry of Finance, money value of mobile money transactions moved from less than FCFA 200 billion in 2014 to FCFA 870 billion in 2016 giving about 84 million transactions. .  The users of mobile money services also have their own fair share of the gains. It is not only economically but also rapid and convenient. For example, transferring FCFA 10,000 via mobile money cost just FCFA 50 where as in traditional transfer agencies, it goes up to at least FCFA 300. The user can even sit at the comfort of his bedroom and carry out the transaction without incurring further cost for movement unlike fixed money transfer agencies. User also use the service to pay bills at their convenience thus saving time that used to be spent on long ques at the counters of utilities service providers like electricity. Mobile money also serves as electronic wallet for users as they no longer need to move along with physical cash. Users can buy fuel, do shopping in supermarkets, get drinks in bars and snacks amongst others and pay using mobile money.  Enterprises and institutions like Electricity supply company (ENEO), General Directorate of Taxation, CAMRAIL amongst others are also taking advantage of the technological revolution to facilitate revenue collection. Today, it is easy paying electricity bills via mobile money with the enterprise attending to several clients at a time than the hitherto long and tiring cues at their counters. The taxation administration has also digitalised by introducing mobile tax. This enables the tax payer to pay at his convenience and could be seen as a motivating factor in tax payment. The advantage is that many customers can be served at the same time.  The State that provides the enabling environment for these services is not left other in the booty. Though for now there is no particular fiscal legislation for Mobile Money services, the telecom companies pay taxes to the State treasury. According to Business in Cameroon Magazine, FCFA 617 billion was paid as taxes by the telecom companies between 2012 and 2014 with a 2 per cent tax of their turnover introduced by the 2016 Finance Law. In a paper presented in the ITU Workshop in Switzerland in 2011 by Pauline Tsafak Djoumessi, a senior official of Cameroon’s Posts and Telecommunication Ministry, operators pay taxes related to fiscal characteristics of telecom business, standard operating taxes as well as specific contributions relating to electronic communication activities.

Partager cet article


    List is empty.

laisser un commentaire