Mobile Money Service Provider — Somalia

The Somalia category mapped to e-money issuance.

Central Bank of Somalia licence for a mobile money service provider under the Mobile Money Regulations, 2020 (amended 2021). A provider issues an e-wallet to each consumer against funds paid in any approved currency, redeemable at par, with a 100% float backing (regs 12, 20) — e-money in substance. The published register (centralbank.gov.so/mobile-money) names the licensed OPERATORS (telcos), not the wallet brands (EVC Plus, Sahal, eDahab…) — the register name is recorded verbatim; brand aliases only from an official source (ADR-057). Name-keyed (no licence numbers, dates or status published online; the licence particulars exist offline in the statutory register). Minimum capital USD 2,000,000 (reg 11(1)).

Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-04 · unchanged since the previous check.

Licensed providers

6 entities

#	Provider	Status (as reported)	Source	Source date
1	Amtelkom	licensed	Central Bank of Somalia	not dated
2	eBesa	licensed	Central Bank of Somalia	not dated
3	Golis	licensed	Central Bank of Somalia	not dated
4	Hormuud	licensed	Central Bank of Somalia	not dated
5	SomNet Telecom (also written SomNet)	licensed	Central Bank of Somalia	not dated
6	Somtel	licensed	Central Bank of Somalia	not dated

Reading the tables

not dated: — the official source publishes no date of its own. We show our own last-checked date instead of inventing one for the regulator.

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	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. 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 Somalia →