How Senegal’s new mobile money tax sabotages its digital economy
- Senegal's new mobile money tax has become a topic of intense national debate.
- The tax is a 0.5% levy on money transfers aimed at mobilizing revenue.
- Over 90% of the Senegalese population actively uses mobile money for financial transactions.
The implementation of a transaction tax on mobile money in Senegal appears to be a misguided approach that could hinder economic progress and financial inclusion. A more effective strategy would focus on taxing service provider revenues or enhancing digital tax collection systems, rather than penalizing everyday citizens who rely on mobile money for essential transactions.
