An Ivory Coast consumer association denounced escalating taxes on mobile money transactions in the country and demanded the complete removal of the levies, Le Monde Afrique reported.

In a statement to the newspaper, Jean-Baptiste Koffi, president of the Confederation des Consommateurs de Cote d’Ivoire, said a 7.2 per cent increase in tax rates on mobile money payments and cash transfers damaged the country’s financial inclusion effort.

The federation, which represents ten different consumer groups in the country, stated that less than a fifth of consumers in Ivory Coast have access to bank accounts.

It noted the traditionally low cost of transactions using mobile money services had led to a “dynamic” industry, but the increase in government levies made it “more expensive for consumers to use an accessible service that has started to enter our habits.”

Le Monde Afrique estimates XOF15 billion ($25.8 million) is transacted through mobile money in Ivory Coast on a daily basis.