January Makamba, Deputy Minister for Science and Technology
Tanzania's government has instructed the banking and
telecoms regulators to speed up the development of regulations
covering mobile banking services.
The Deputy Minister for Science and Technology,
January Makamba said that both regulators are responsible on the matter
and should work together to put the regulations in place.
The call for a regulatory overhaul following
concerns of safety and efficiency of mobile money transactions, which
are already proving highly popular with users.
The Deputy Minister also called on the telecoms regulator, TCRA to do more to raise revenues for the government.
"Communication companies must pay taxes and other
statutory dues...many times reports on what they earn are reported as
huge, but the ensuing taxes are disheartening," he added.
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