All commercial banks and telecommunication companies will extend moratorium on services to December this year, a development following an agreement with the central bank, after it engaged the respective companies on cushioning customers amidst the coronavirus pandemic.

Initially, the above was implemented under a 3 months time frame which ended in July. As agreed in the moratorium, mobile money operators would slash digital transaction rates, banks would also do the same, among others. After the  first 3 month period expired, RBM spokesperson Onelie Nkuna said the MoU was open for review, considering the prevalence and impact of the pandemic.

Following the new moratorium, Airtel Money will not charge transaction fees for purchases of electricity units, as customers of banks will discuss with their respective banks on how/what services will be applied in the new time frame.