Airtel, TNM remove user fees as Reserve Bank of Malawi announce Covid-19 cushions
Reserve Bank of Malawi (RBM) Governor Dalitso Kabambe has announced that the country’s two mobile phone network operators, Airtel Malawi plc and TNM plc, have completely removed user fees and charges on personal transfers on the same network for a period of three months, in the face of coronavirus (Covid-19).
Kabambe made the announcement in Lilongwe in the presence of TNM and Airtel Malawi managing directors.
He said effective Wednesday mid-night, the two mobile phone companies have also agreed with the central bank to reduce user fees and charges on person to person transfers across their respective networks from a minimum of K120 to K20.
This means that moving mobile money within the same network, say TNM to TNM or Airtel to Airtel, will attract no fees and charges.
Kabambe also announced revisions of daily transaction and account balance limits on non bank mobile money services to be communicated to customers by individual mobile network operators.
He said the transaction limit for for the personal subscriber has been adjusted from K750 000 to K1.5 million.
Agents will now have a K30 million as their transaction limit from K20 million.
Meanwhile, Kabambe has also announced that all microfinance institutions and financial cooperatives have also immediately suspended interest and principal repayments for loans by borrowers including pay-roll borrowers on a case by case basis.
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So where was this money going to all this time . Mumagawananso kumabera anthu oti akutumiza K2000.
Waterboard and ESCOM should offer their services at 50% discount or more. It doesnt make sense that government institutions should charge their services normally while private companies are reducing them.
Nothing is for free. Trust me on this.
Guys i have a question What about those who are intending or were queud to take loan will the borrowers be in a position to offer that loan?In case the directive is true who will be responsible in servicing the already taken loans?
What a caring government we have. Cries of the people have been heard. Thumbs up government
Cries have been heard after their legs and hands have been chopped off
How about the bank loans? and MRA can you suspend PAYE as well.
i think government will also for this 3 months remove the PAYE
I think government will also reduce the size of the cabinet by 15 (Dausi, Botoman, Jappie etc. out
My brother Kamoto please learn to dress to suit the occasion. Are you suggesting that you cant afford a tie? People will judge your character from your looks as to whether you are responsible or irresponsible although we are aware of the freedom of dressing.
In case of a lockdown , where will the money to perform these transactions come from or go to as nearly everyone will comply with the #stayhome rule?
This is well and I good for those who have money to send but does not help in any way to aid the survival of those who live on hand to mouth under a lockdown situation…
Can I suggest that you also consider suspending PAYE for 3 months starting from April
I was about to ask the same
Where did this come from?
From me so far is bravo.. MRA may as well halt PAYE contributions for the next three months
Hellow Standard Bank!!!!
This is real stimulus package. At least someone is thinking well and appropriate for the situation at hand