Mobile operators scrap Airtel Money, TNM Mpamba charges

Reserve Bank of Malawi RBM has announced that mobile network operators have scrapped off charges and user fees on person to person cash transfers.

RBM governor Dalitso Kabambe said transacting from Airtel money to Airtel money and TNM Mpamba to TNM Mpamba will not be charged for the service.

According to Kabambe the development is aimed at encouraging cashless transactions in the wake of COVID-19 pandemic.

“The operators have also reduced cash transfer costs between networks from 120 kwacha to 20 kwacha,” says Kabambe

Addressing journalists in Lilongwe Kabambe disclosed the upward adjustment of maximum cash transactions for personal subscribers from 750 thousand kwacha to 1.5 million kwacha.