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How N-Soft Help Governments Finding Revenue Leakages In A Mobile Money Economy

N-Soft , a Paris-based technology company is helping governments in emerging economies with tools to offer visibility into their country’s revenue leakages .The company provides innovative solutions, enhancing governments’ ability to supervise the data from major digital sectors, including telecoms, finance, mobile money and commodities.

Its easy-to-read reports provide clear data to government officials that help identify and ultimately collect tax money that already exists, instead of increasing tax rates for their people.  

According to the company, only about 35% of Africans have bank accounts, and recently the African electronic payment market is growing 20% yearly to make up for that. Despite the rise in monetary exchanges, the percentage of tax being collected by governments does not match. This is a big loss. 

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N-Soft is working with a number of African countries in an effort to revolutionize its processes using N-Soft technology. Mali is a strong example of just one African nation that has already started to work smart. N-Soft implemented its solution to the West African nation in 2019. Since then, their government has been able to review mobile money exchanges from two of the country’s major telecommunications companies – and ultimately identified a total volume of $33 billion USD worth of Mobile Money transactions all within Mali’s borders. N-Soft also recently implemented its governance solution in Somaliland in September of 2022, which offered a new view into the country’s telecom sector. 

N-Soft’s technology ensures that no data ever leaves the country it’s operating from and its team of experts get government employees set up with a full and thorough transfer of knowledge. More impressively, the system is implemented in 13 weeks’ time when operations are working optimally. The transfer of skills is effortless and in just a few short months, governments will get up to speed and be able to manage the operation independently. N-Soft is not inhibited by borders. N-Soft technology can identify transactions that are executed over the boundaries of African countries as well.  

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N-Soft offers a solution that does not involve increasing taxes, but rather focuses on monies that already exist. Governments get the appropriate funds necessary to make societal improvements and the tax burden is more evenly distributed across the nation as well as taken from the appropriate sectors. 

A recent poll administered by N-Soft shows that members of tax authorities found their main challenge for revenue mobilization to be “lack of transparency.” 73% of survey respondents agree and consider a lack of visibility to be the biggest hurdle, especially without digital tools to match and compete with the digital mobile money platforms emerging throughout the continent.

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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