Enabling Mobile Money Policies in the Democratic Republic Of Congo

In December 2011, the Democratic Republic of Congo’s (DRC) central bank released a new regulatory framework on electronic money (e-money): Directive #24. This was a landmark development in the Banque Centrale du Congo’s (BCC) financial inclusion strategy. Recognising mobile money’s unrivalled potential to reach the unbanked, BCC has designed an enabling regulatory framework that allows non-bank e-money issuers to oer transformational financial services. A few months after the release of the new framework, four mobile network operators (MNOs) were granted a licence and three launched operations, creating a competitive mobile money market that is bringing eciency in a country where neither banks nor payment service providers have yet managed to reach scale. The rapid market uptake of e-money is the direct result of an inclusive engagement process through which the regulator and mobile providers created Directive #24 on electronic money.

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