Zimbabwe is hiking mobile money taxes to plug its fiscal deficit but it could backfire

Zimbabwe is hiking mobile money taxes to plug its fiscal deficit but it could backfire

Zimbabwe is hiking mobile money taxes to plug its fiscal deficit but it could backfire

By / Finance / Monday, 08 October 2018 00:01

Cash-strapped Zimbabwe has turned to mobile money for additional treasury funding with a hike in taxes for mobile wallets and electronic payment transactions.

Zimbabwean business owners and consumers in the country say the new fiscal measure will push up costs in an economy already battling rising inflation and currency shortages.

 

Read more at Quartz Africa.

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NexPro Media Staff

NexPro Media Staff

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