The Governor of the Bank of Central African States (BEAC), Yvon Sana Bangui, advocated for a revision of the tax policy on Mobile Money at a summit on payment interoperability held in Kigali on March 9, 2026. Representing the Economic and Monetary Community of Central Africa (CEMAC), he suggested taxing the use of cash rather than digital transactions, an approach he believes would promote financial inclusion.
Speaking to African and international financial decision-makers, Yvon Sana Bangui highlighted CEMAC's progress in financial integration, including the GIMAC Pay platform and the upcoming accession to the Pan-African Payment and Settlement System (PAPSS). The latter aims to facilitate cross-border payments in local currencies and reduce dependence on foreign exchange reserves.
The governor, however, expressed concerns about the proliferation of taxes on Mobile Money, calling them a "parallel regulation" that hinders the adoption of digital payments. In Cameroon, for example, a 0.2% tax has been applied to Mobile Money transfers and withdrawals since 2022, with an additional specific duty of 4 CFA francs per transaction introduced by the 2025 finance law. These measures can significantly increase transaction costs.
For Sana Bangui, an alternative solution would be to tax the use of cash, seen as a vector of opacity and fraud. This approach would encourage the traceability of financial flows and reduce the informal economy. The idea is to introduce stamp duties on cash payments and tax penalties for economic actors favoring cash.
Financial inclusion remains a major challenge in the CEMAC zone. In Cameroon, the classic banking rate fluctuates around 24 to 28%. However, thanks to microfinance and Mobile Money, the overall financial inclusion rate is estimated at around 45% in 2021 and is expected to exceed 50% in 2023. Mobile payment services cover more than 67% of adults, but the national strategy aims for a 65% financial inclusion rate by 2027, particularly targeting rural areas and vulnerable populations.
Several CEMAC countries have adopted different approaches to Mobile Money taxation. Cameroon has applied a 0.2% tax on mobile money transfers and withdrawals since January 2022, supplemented by a fixed duty of 4 CFA francs per transaction in 2025. Gabon considered a 0.5% tax on electronic transactions as part of its 2025 budget. Conversely, Chad plans to eliminate taxes on money transfers, initially introduced in 2022, recognizing the need to support digital financial ecosystems.
The goal of increased financial inclusion is to support local economic development by mobilizing savings to finance productive activities, particularly in regions with high economic potential. BEAC aims to achieve a financial inclusion rate of 75% in the sub-region by 2030.
