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Airtel, MTN Under Investigation for Hidden Mobile Money Charges

Omolade Oyelaja by Omolade Oyelaja
February 4, 2025
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Airtel, MTN Under Investigation for Hidden Mobile Money Charges

The COMESA Competition Commission is investigating Airtel Mobile Commerce BV and MTN Group over allegations of hidden transaction fees and undisclosed exchange rates in cross-border money transfers. The probe targets operations in Kenya, Uganda, and Malawi, where customers have raised concerns about transparency.

According to COMESA, Airtel Mobile Money Kenya displayed different charges before and after transactions. Users were also left uninformed about exchange rates and intermediary parties involved in the process. In Uganda and Malawi, Airtel allegedly failed to disclose the exchange rates used, the final amount recipients received, and details of intermediary banks handling the transfers.

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MTN Mobile Money Uganda is also under scrutiny. The commission claims the amount displayed to senders sometimes differed from what recipients ultimately received. Additionally, users were not informed of how their transaction details were shared with third parties.

COMESA regulations require all mobile money operators within its 21-member bloc to clearly display the full cost of transactions before payment confirmation. This includes forex charges to ensure transparency and consumer protection.

The commission describes the alleged practices as misleading and unfair, depriving consumers of crucial information needed for informed financial decisions. However, the investigation is still in the early stages and does not yet confirm any wrongdoing by Airtel or MTN.

Consumers affected by these issues have until February 28, 2024, to come forward and share their experiences.

Airtel Money has been gaining traction in Kenya’s mobile money market, increasing its market share from 2.9% to 7.6% over the past year. This growth is partly due to lower fees compared to Safaricom’s M-PESA, its biggest competitor. However, this recent scrutiny could impact its reputation and future expansion plans.

The outcome of the probe will determine whether the telcos violated consumer protection laws within the COMESA trade bloc.

With mobile money becoming a crucial part of financial transactions in Africa, transparency will be key to maintaining consumer trust.

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