Mobile money operator — Sierra Leone

The Sierra Leone category mapped to e-money issuance.

Bank of Sierra Leone licence for a mobile money operator (e-money issuer) — licensing IS mandated (National Payment Systems Act 2022, s.6: « No person shall provide payment services or operate a System unless such person is duly licensed by the Central Bank »), and the Guidelines for Mobile Money Services (2015, under s.53 of the Other Financial Services Act 2001) run the licence process. But NO public register or list of licensed mobile money operators / PSPs is published anywhere on bsl.gov.sl (the Directory of Financial Institutions covers banks/OFIs/MFIs/forex bureaus only; the Participants-to-the-National-Payments-System page is banks-only) → the coverage state is register_unavailable (the SZ-CBE-MMSP / CD-BCC-SWITCH exemplar, at full strength). Operators that press/donor reports describe as active are HELD, never minted (Rule 3; report the record — the register is the source, never imply anything about an entity's licensing status). Zero named-licensee facts at build (the SZ precedent: no providers file, no worker import). lang en.

Register unavailable: Licensing of mobile money operators (e-money issuers) is mandated — the National Payment Systems Act 2022 (s.6) provides that no person may provide payment services or operate a system unless licensed by the Central Bank — but no public register or list of licensed operators has been located anywhere on bsl.gov.sl (the Directory of Financial Institutions covers banks/OFIs/MFIs/forex bureaus only; the Participants-to-the-National-Payments-System page is banks-only). Operators that press/donor reports describe as active are not minted here (report the record — the register is the source; never infer any entity's licensing status from its absence). This page will carry the register when one publishes; the published D1 requirements are recorded.

Licence requirements

What it takes to hold this licence, as stated in the cited official instruments. Capital and fees are shown in the currency the statute itself uses.

Requirement	As published	Source	Source date
Minimum capital	Not officially published: No minimum-capital figure is published: the National Payment Systems Act 2022 requires capital adequacy « at levels specified by the Central Bank » (s.6(2)) and the Guidelines for Mobile Money Services fix no capital amount. No official figure is published.	National Payment Systems Act, 2022 (Act 8 of 2022) — s.6 (requirement for a licence: no payment service without a BSL licence; capital adequacy at levels specified by the Central Bank)	2022-06-23
Local presence / incorporation	The applicant must be a registered limited liability company, and must open and maintain a trust account at a commercial bank specifically for facilitating mobile payments (Guidelines for Mobile Money Services §6.1). Verbatim “The applicant must be a registered limited liability company; (b) Must open and maintain a trust account(s) at a commercial bank(s) specifically for the purpose of facilitating mobile payments”	Guidelines for Mobile Money Services (issued under s.53, Other Financial Services Act 2001) — §6.1 (registered limited-liability company; trust account), §25 (trust-account = total outstanding e-money; 24-hour float replenishment)	not dated
Timeline	A value has been located but not yet verified, so we don't publish it here.	—	—
Local ownership	No such requirement: The Guidelines for Mobile Money Services impose no local-shareholding or nationality cap on a mobile money operator.	Guidelines for Mobile Money Services (issued under s.53, Other Financial Services Act 2001) — §6.1 (registered limited-liability company; trust account), §25 (trust-account = total outstanding e-money; 24-hour float replenishment)	not dated
Fees	A value has been located but not yet verified, so we don't publish it here.	—	—
Ongoing obligations	A mobile money operator must at all times keep the balance on its trust account equal to the total outstanding (un-spent) e-money of all holders (100% float backing), and must replenish the pledged float within 24 hours of depletion or be sanctioned (Guidelines for Mobile Money Services §§6/25). Verbatim “the balance on the trust account shall always be equal to the total outstanding (un-spent) balance of all holders of the e-money … replenishment of the pledged float within 24 hours of depletion, failing which the issuer shall be sanctioned”	Guidelines for Mobile Money Services (issued under s.53, Other Financial Services Act 2001) — §6.1 (registered limited-liability company; trust account), §25 (trust-account = total outstanding e-money; 24-hour float replenishment)	not dated

Requirements as published in the cited instruments — not legal or compliance advice. 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.

The equivalent in other markets

Categories mapped to the same normalized activity — fintech:EMONEY_ISSUE:

Cross-border rules for Sierra Leone →