MTN and Airtel, two of Africa’s largest telecom operators, are once again under scrutiny for deceptive business practices that exploit millions of unsuspecting customers. The COMESA Competition Commission has launched an investigation into these companies, accusing them of misrepresenting transaction fees, concealing exchange rate details, and engaging in practices that ultimately rob consumers of their hard-earned money. This latest probe underscores the persistent concerns about transparency and fairness in Africa’s mobile money sector.
In Kenya, Airtel Money has allegedly been misleading customers by displaying one transaction fee before money is sent, only to impose a different charge in the final confirmation message. Additionally, the telecom giant has been accused of withholding crucial information about exchange rates and intermediary fees in cross-border transactions. Customers, many of whom rely on these services for essential financial transactions, are left in the dark about the true costs of their transfers.
In Uganda, MTN Mobile Money is facing similar allegations. Customers have reported discrepancies in transaction charges, with fees differing from what was initially indicated. In some cases, recipients of money transfers do not even receive information about the sender. Such irregularities raise serious concerns about accountability and consumer rights, especially considering the scale at which these services operate.
This is not the first time these telecom companies have faced allegations of unethical business practices. In 2024, Airtel was investigated over its partnership with American Tower Corporation (ATC), a deal that was criticized for being anti-competitive and restricting access to crucial telecommunications infrastructure. The latest accusations further reinforce the perception that these companies prioritize profits over ethical business practices and consumer protection.
Despite their immense financial success, MTN and Airtel have consistently failed to provide full transparency in their mobile money services. What was initially promoted as a revolutionary tool for financial inclusion has, in many cases, become a system that quietly drains consumers through hidden fees and unclear charges. With millions of people across East Africa depending on mobile money for daily transactions, the lack of transparency in pricing and service delivery is unacceptable.
Regulators in Uganda, Kenya, and Malawi must take decisive action to hold these telecom giants accountable. Investigations alone are not enough—authorities must enforce stricter regulations and impose significant penalties to deter such exploitative practices. Consumers deserve clear, honest information about transaction fees and exchange rates, as well as assurance that their money is being handled with integrity.
The hearings scheduled for February 28th will be a crucial test of whether COMESA and national regulators are willing to stand up to corporate misconduct. However, history suggests that large corporations often escape meaningful consequences through legal loopholes or financial settlements. If regulatory bodies fail to act decisively, consumers must take matters into their own hands by demanding better services and holding these companies accountable through public pressure and informed choices.
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