Mobile money operator — The Gambia

The The Gambia category mapped to e-money issuance.

Central Bank of The Gambia authorisation for a mobile money operator — a payment service provider (« a person engaged in the sending, receiving, storing or processing of retail transfers ») licensed to provide mobile money services under the Regulation for the Provision of Mobile Money Services, 2011 (effective 15 October 2011, made under the CBG Act ss. 52+75). Two operators are named on the CBG's mobile-money page: Afrimobile Money (Africell) and QMoney Financial Services Ltd (Qcell). This is the wallet lane → e-money issuance. The Mobile Money Regulation fixes the D10,000,000 core capital + D5,000,000 security deposit for a payment service provider but EXPRESSLY EXCLUDES « an authorised e-money issuer », whose capital is fixed by the E-Money Regulation — an instrument referenced in the Mobile Money Regulation's own definitions but NOT published on cbg.gm (a not_published absence at the D1 gate). The CBG's own mobile-money page carries a « CONTENT REQUIRED FROM CBG » placeholder — self-declared incomplete — so this is a curated named-edition mint (a human re-mints on a real page change), never a fragile auto-parse; press-reported operators (Wave, APS, Nafa/Access) are HELD, never minted (Rule 3).

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

Licensed providers

2 entities

#	Provider	Status (as reported)	Source	Source date
1	Afrimobile Money (also written Afrimoney)	authorized	Central Bank of The Gambia	not dated
2	QMoney Financial Services Ltd (also written QMoney)	authorized	Central Bank of The Gambia	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	Not officially published: No official e-money-issuer capital figure is published: the Mobile Money Regulation 2011 expressly excludes « an authorised e-money issuer » from its D10M core-capital floor and refers such an issuer to the E-Money Regulation, an instrument referenced in the Mobile Money Regulation's own definitions but not published on cbg.gm (gate flag 1).	Regulation for the Provision of Mobile Money Services, 2011 — §4.1/4.2 (authorisation process, 30-day decision, LLC-in-Gambia, D10k fee), §4.5 (12-month renewal), §5.1/5.2 (D10M core capital + D5M security deposit), definitions (retail-transfer D10k cap; e-money issuer carve-out)	2011-10-15
Local presence / incorporation	The applicant must be a limited liability company registered in The Gambia (Mobile Money Regulation 2011 §4.2(a) — the authorisation condition for any mobile-money payment service provider). Verbatim “The person is a limited liability company registered in The Gambia”	Regulation for the Provision of Mobile Money Services, 2011 — §4.1/4.2 (authorisation process, 30-day decision, LLC-in-Gambia, D10k fee), §4.5 (12-month renewal), §5.1/5.2 (D10M core capital + D5M security deposit), definitions (retail-transfer D10k cap; e-money issuer carve-out)	2011-10-15
Timeline	The Bank decides within thirty days of receiving the complete information requested under §4.1 (Mobile Money Regulation 2011 §4.2). Verbatim “The Bank shall, within 30 days of receiving the complete information requested under 4.1, authorise a person as a payment service provider”	Regulation for the Provision of Mobile Money Services, 2011 — §4.1/4.2 (authorisation process, 30-day decision, LLC-in-Gambia, D10k fee), §4.5 (12-month renewal), §5.1/5.2 (D10M core capital + D5M security deposit), definitions (retail-transfer D10k cap; e-money issuer carve-out)	2011-10-15
Local ownership	No such requirement: The Mobile Money Regulation 2011 imposes no local-shareholding or nationality cap on a mobile money operator.	Regulation for the Provision of Mobile Money Services, 2011 — §4.1/4.2 (authorisation process, 30-day decision, LLC-in-Gambia, D10k fee), §4.5 (12-month renewal), §5.1/5.2 (D10M core capital + D5M security deposit), definitions (retail-transfer D10k cap; e-money issuer carve-out)	2011-10-15
Fees	A non-refundable application fee of Ten Thousand dalasis (D10,000) is lodged with the Bank (Mobile Money Regulation 2011 §4.2(i)). Verbatim “The person has lodged a non-refundable application fee with the Bank of Ten Thousand Dalasis or any such amount that may be determined by the Bank from time to time.”	Regulation for the Provision of Mobile Money Services, 2011 — §4.1/4.2 (authorisation process, 30-day decision, LLC-in-Gambia, D10k fee), §4.5 (12-month renewal), §5.1/5.2 (D10M core capital + D5M security deposit), definitions (retail-transfer D10k cap; e-money issuer carve-out)	2011-10-15
Ongoing obligations	The authorisation is valid for and renewable each twelve-month period, and remains in force while a renewal application is pending (§4.5); a retail transfer to a payee holding no payment account may not exceed ten thousand dalasis (definitions); quarterly reporting to the Bank applies (§13). Verbatim “An authorisation made under this clause may on expiry be renewed for a further period of twelve months, provided that where an application for renewal is made the authorisation shall be deemed to continue in force until the application for renewal is determined.”	Regulation for the Provision of Mobile Money Services, 2011 — §4.1/4.2 (authorisation process, 30-day decision, LLC-in-Gambia, D10k fee), §4.5 (12-month renewal), §5.1/5.2 (D10M core capital + D5M security deposit), definitions (retail-transfer D10k cap; e-money issuer carve-out)	2011-10-15

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 The Gambia →