Finance Ministry drops proposal to halve 0.5% mobile money withdrawal tax for 2026/27 budget

According to URN in The Independent, the Ministry of Finance did not include in its 2026/27 revenue measures an earlier proposal to cut the excise duty on cash withdrawals to 0.25% and spread it across banks and mobile money platforms. Secretary to the Treasury Ramathan Ggoobi said the cut was not among the proposed measures but that further analysis on reducing cash use was intended. CSBAG said high taxes are harming financial inclusion.