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).

Reserve Bank of Malawi (RBM) Governor Dalitso Kabambe aldislcosed the two mobile phone companies have agreed with the central bank to reduce user fees

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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soches
soches
10 months ago

So where was this money going to all this time . Mumagawananso kumabera anthu oti akutumiza K2000.

Malambo Folo
Malambo Folo
10 months ago

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.

Kandulu
Kandulu
10 months ago
Reply to  Malambo Folo

Nothing is for free. Trust me on this.

Maliki
Maliki
10 months ago

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?

Chiombagaga
Chiombagaga
10 months ago

What a caring government we have. Cries of the people have been heard. Thumbs up government

Ngulukira
Ngulukira
10 months ago
Reply to  Chiombagaga

Cries have been heard after their legs and hands have been chopped off

Thubulo
Thubulo
10 months ago

How about the bank loans? and MRA can you suspend PAYE as well.

mathews
mathews
10 months ago

i think government will also for this 3 months remove the PAYE

Ngulukira
Ngulukira
10 months ago
Reply to  mathews

I think government will also reduce the size of the cabinet by 15 (Dausi, Botoman, Jappie etc. out

Mpakateni
10 months ago

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.

Destroyer of liars
10 months ago

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?

Mbonga Matoga
Mbonga Matoga
10 months ago

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…

Gift
Gift
10 months ago

Can I suggest that you also consider suspending PAYE for 3 months starting from April

bandafred9@gmail.com
10 months ago
Reply to  Gift

I was about to ask the same

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