Because of its enormous profitability, sim boxing, or so-called “grey traffic”, is very popular in Uganda, Kenya, Nigeria and many other African countries.
Huge revenues
According to the survey made by Revector, the principal anti-fraud and security provider, telecom companies had lost more than 20% of profit due to sim boxing. And some operators up to 70% of annual revenue. Such losses could not help affecting Ugandan tax revenues. For instance, in 2015 the representatives of the Financial Intelligence Authority reported 144 million dollars of state loss during the past 3 years because of the grey traffic operations.
Continue reading SimBox fraud still thrives in Africa – example of Uganda
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