Africell and Orange Fined in Sierra Leone for Illegal Mobile Money Operations

Telecommunications giants Africell and Orange have been fined by authorities in Sierra Leone for conducting illegal mobile money operations. The fines, issued by the Bank of Sierra Leone, come after both companies were found to be in violation of the country’s financial regulations governing digital financial services.

The regulator accused the telcos of operating mobile money services without the required licensing and compliance standards, putting customers and the financial system at risk. The exact amount of the fines has not been disclosed, but the move signals a growing effort by the Central Bank to tighten oversight of mobile money services amid the sector's rapid expansion in the country.

Both Africell and Orange have been instructed to rectify their operations and ensure full compliance with local regulations to avoid further penalties. The sanctions are seen as part of broader regulatory actions aimed at strengthening the financial sector and curbing potential risks associated with unregulated digital payments in Sierra Leone.

This development underscores the increasing scrutiny being placed on mobile money operators across Africa, as governments and regulators seek to maintain control over the fast-growing digital financial landscape.