What does it take to get an e-money licence in Eswatini?
To hold an e-money licence in Eswatini, you need the Mobile Money Service Provider licence from Central Bank of Eswatini. Published timeline: The Bank shall, within ninety (90) days after the receipt of an application (or of any further information required), notify the applicant in writing of the grant or refusal of a licence — a statutory decision window. Full requirements — minimum capital, local presence, timeline, local ownership, fees and ongoing obligations — are set out below in each instrument's own words, with source and date; amounts are in the statute's own currency.
“E-money issuance” here is the normalized activity: Issue stored-value / electronic money redeemable at par and hold the customer float. The category of licence that lets a provider keep customers' money.
Activity id (as used by the Afriset MCP): fintech:EMONEY_ISSUE
Mobile Money Service Provider
Central Bank of Eswatini| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | No such requirement: The Practice Note officially states that for a non-supervised mobile money service provider there is no capital requirement (capital requirements apply only to institutions supervised by the Bank under the Financial Institutions Act, unless directed otherwise). A rare officially-stated structural absence — the answer is "no capital requirement". | Practice Note for Mobile Money Service Providers (No. 1/2019/NPSS) — art. 6 (documentation / place of business), art. 9 (trust account), art. 11 (decision on licence, 90-day window; annual renewal), Capital Requirements section, art. 12 (fees) | 2019-03 |
| Local presence / incorporation | An applicant must provide an authenticated copy of its memorandum of incorporation and articles of association and state the location of its principal place and other places of business in the Kingdom of Eswatini. Verbatim“The location of the principal place and other places of business in the Kingdom of Eswatini” | Practice Note for Mobile Money Service Providers (No. 1/2019/NPSS) — art. 6 (documentation / place of business), art. 9 (trust account), art. 11 (decision on licence, 90-day window; annual renewal), Capital Requirements section, art. 12 (fees) | 2019-03 |
| Timeline | The Bank shall, within ninety (90) days after the receipt of an application (or of any further information required), notify the applicant in writing of the grant or refusal of a licence — a statutory decision window. Verbatim“The Bank shall, within ninety (90) days after the receipt of an application, or if further information has been required, after the receipt of such information, notify the applicant in writing either of the grants or refusal of a license.” | Practice Note for Mobile Money Service Providers (No. 1/2019/NPSS) — art. 6 (documentation / place of business), art. 9 (trust account), art. 11 (decision on licence, 90-day window; annual renewal), Capital Requirements section, art. 12 (fees) | 2019-03 |
| Local ownership | No such requirement: The Practice Note imposes no local-shareholding or nationality cap on a mobile money service provider. | Practice Note for Mobile Money Service Providers (No. 1/2019/NPSS) — art. 6 (documentation / place of business), art. 9 (trust account), art. 11 (decision on licence, 90-day window; annual renewal), Capital Requirements section, art. 12 (fees) | 2019-03 |
| Fees | Not officially published: A non-refundable licence or authorization fee is payable on grant and on each renewal, and an annual regulatory fee applies; for a non-supervised institution the licence fee is determined by the Bank — no figure is published in the Practice Note. | Practice Note for Mobile Money Service Providers (No. 1/2019/NPSS) — art. 6 (documentation / place of business), art. 9 (trust account), art. 11 (decision on licence, 90-day window; annual renewal), Capital Requirements section, art. 12 (fees) | 2019-03 |
| Ongoing obligations | An MMSP must open and maintain a trust account and ensure that the balance in the trust account is at all times equal to the total outstanding (unclaimed) balance of all e-money holders, ring-fenced from creditors on the holding bank's insolvency; the licence is subject to annual renewal. Verbatim“A MMSP shall ensure that the balance in the trust account shall at all times be equal to the total outstanding (un-claimed) balance of all holders of the e-money under the service.” | Practice Note for Mobile Money Service Providers (No. 1/2019/NPSS) — art. 6 (documentation / place of business), art. 9 (trust account), art. 11 (decision on licence, 90-day window; annual renewal), Capital Requirements section, art. 12 (fees) | 2019-03 |
Requirements as published in the cited instruments — not legal or compliance advice. Capital and fees are shown in the currency the statute itself uses. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.
Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-04 · unchanged since the previous check.
Who already holds this licence?
0 entities are on the Central Bank of Eswatini register under the Mobile Money Service Provider category — view the register .
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