The Central Bank of West African States (BCEAO) has introduced new regulations for mobile money transactions in the West African Economic and Monetary Union (UEMOA). As of November 2, 2026, sending money via mobile phone is virtually free, with a significant reduction in transaction costs. The new rules aim to increase financial inclusion and make transactions more accessible to a wider audience.
The new regulations have abolished charges for national transactions of up to 8,000 FCFA (approximately $12 USD) per day. This threshold covers about 75% of all electronic transactions in the UEMOA region. For transactions exceeding this amount, banks and financial institutions can charge a maximum of 0.8% of the transaction value. Recipients of mobile money transfers will continue to receive funds free of charge, with no limits on the amount or number of transactions.
The BCEAO has also increased the limits on mobile money accounts, allowing users to hold up to 4 million FCFA and make monthly transactions of up to 15 million FCFA. This change is expected to benefit small businesses and entrepreneurs in the informal sector, who often rely on mobile money for their financial transactions.
The new regulations are based on Instruction No. 020, signed on October 8, 2026, which aims to create a unified and more inclusive financial market in the UEMOA region. The regulations have been developed in collaboration with various stakeholders, including banks, fintech companies, and telecom operators. All financial institutions and mobile money operators are required to route their transactions through the Instant Payment Platform (PI-SPI), launched in September 2025.
The PI-SPI platform has already gained significant traction, with 175 participants and over 38 million users. The platform enables instant transactions and has the potential to increase financial inclusion and reduce transaction costs across the UEMOA region. The BCEAO aims to extend the new regulations to international transactions within the UEMOA region by June 1, 2027.
The economic impact of the new regulations is significant, with the electronic money market in the UEMOA region valued at 1,923.2 billion FCFA as of December 2025. Côte d'Ivoire and Senegal account for a significant share of this market, with 23.5% and 29.7% of the total, respectively. The BCEAO's new regulations are expected to drive growth and increase financial inclusion in the region.
The new regulations also provide benefits to financial institutions, allowing them to reduce the proportion of client funds held in sight deposits from 75% to 65%. This change is expected to free up approximately 192.3 billion FCFA, which can be invested in more profitable assets. Overall, the BCEAO's new regulations aim to create a more unified, inclusive, and cost-effective financial market in the UEMOA region.
Key points
- The new mobile money regulations in Côte d'Ivoire and UEMOA make transactions cheaper and more accessible, with a significant reduction in transaction costs.
