Becoming issuer of electronic money in Senegal, Mali, Ivory Coast, Guinea and the Democratic Republic of Congo

Our client, a major telecom player and a pioneer of mobile financial services in Africa, offers – in partnership with a banking group – a Mobile Money service in more than 8 countries and with 15 million active users.

Following the evolution of the regulatory framework allowing non-bank players to offer payment and electronic money account management services, our client wanted to change its activities and obtain the necessary authorizations from the Central Bank to offer its services independently.

The intervention of Aviso Consulting was requested in order to:

  • Assist in the preparation of approval applications as an Electronic Money Issuer (EME) and the follow-up of the investigation with the competent central banks (BCEAO / Guinea Conakry / DRC);
  • To define in detail the activities to implement and to assist the constitution and operational start-up of the activities of 5 Electronic Money Institutions;
  • To assist in setting up a shared service center dedicated to the risk management and compliance professions;
  • To offer the settings of the compliance tools based on a risk analysis specific to the services of Mobile Money.

Project duration

16 months


Telecom operator

Aviso team

2 partners and 5 experts


Constitution of accreditation files in less than 3 months.

Obtaining approvals in less than 6 months.

Launch of EME operational activities in less than 12 months

Operational launch of the shared service center < 12 months

Definition and implementation of an EME migration strategy; Execution < 3 months


The model implemented during our intervention was successfully duplicated by our client on 3 other operations during the 2 following years.

The operational experience of the Aviso team members helped to accelerate the start of operations and secure the construction of a robust operating model. In addition, the successful coordination of several intervention teams in parallel on different operations allowed to contain this ambitious transformation project in exceptionally short time.