What does it take to get an e-money licence in Somalia?
To hold an e-money licence in Somalia, you need the Mobile Money Service Provider licence from Central Bank of Somalia. Published minimum capital: USD 2,000,000 minimum capital, held at the time of application and at all times (Mobile Money Regulations 2020, reg 11(1); USD-denominated). 6 entities currently hold an e-money licence in Somalia. 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 Somalia| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | USD 2,000,000 minimum capital, held at the time of application and at all times (Mobile Money Regulations 2020, reg 11(1); USD-denominated). Verbatim“A mobile money service provider shall at the time of application for a license and at all times, hold minimum capital of USD 2,000, 000.” | Central Bank of Somalia — Mobile Money Regulations, 2020 (amended 2021) — reg 6 (fees), reg 7 (timeline/term), reg 11 (capital), reg 12 (float) | 2020 |
| Local presence / incorporation | A value has been located but not yet verified, so we don't publish it here. | — | — |
| Timeline | The Central Bank shall, within ninety days, issue a licence with or without conditions; a refusal is reasoned and appealable to a board committee within thirty days (reg 7(1), reg 8). Verbatim“within Ninety days issue a license with or without conditions.” | Central Bank of Somalia — Mobile Money Regulations, 2020 (amended 2021) — reg 6 (fees), reg 7 (timeline/term), reg 11 (capital), reg 12 (float) | 2020 |
| Local ownership | No such requirement: The Mobile Money Regulations 2020 impose no local-shareholding or nationality cap on a provider (a « significant shareholder » ten-per-cent threshold is a disclosure trigger, not an ownership limit). | Central Bank of Somalia — Mobile Money Regulations, 2020 (amended 2021) — reg 6 (fees), reg 7 (timeline/term), reg 11 (capital), reg 12 (float) | 2020 |
| Fees | Application fee USD 5,000 and licence fee USD 25,000 (reg 6(3)); biennial renewal USD 10,000 plus USD 300 per outlet/agent (reg 7(5)). Verbatim“application fee of USD 5,000 and (c) license fee of USD 25,000.” | Central Bank of Somalia — Mobile Money Regulations, 2020 (amended 2021) — reg 6 (fees), reg 7 (timeline/term), reg 11 (capital), reg 12 (float) | 2020 |
| Ongoing obligations | A provider must at all times hold, in a bank account, funds equal to the amount of mobile money issued to consumers (100% float backing, reg 12); mobile money is issued only against funds and redeemed at par, with no commingling of the float. Verbatim“funds in a bank account... equal to the amount of mobile money issued to consumers.” | Central Bank of Somalia — Mobile Money Regulations, 2020 (amended 2021) — reg 6 (fees), reg 7 (timeline/term), reg 11 (capital), reg 12 (float) | 2020 |
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?
6 entities are on the Central Bank of Somalia register under the Mobile Money Service Provider category — view the register .
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