March 6, 2022 – Mogadishu, Somalia — eBesa, a new mobile money service owned and operated by IBS Bank, has received its official license from the Central Bank of Somalia (CBS). The platform is powered by SomLink Telecom, a licensed telecom operator under the National Communications Authority (NCA).
With this license, eBesa becomes the third mobile money provider authorized by CBS under Somalia’s new digital finance regulations. Although the service has not yet launched publicly, the license is a major step toward expanding secure and Sharia-compliant financial services across the country.
The license handover ceremony was held at Decale Airport Hotel in Mogadishu. During the event, CBS Governor Abdirahman Mohamed Abdullahi officially presented the license to Mr. Abdirizak Warsame, Vice Chairman of IBS Bank.
Several high-profile figures attended the ceremony, including:
- Mahmoud Abdi Ali “Gabayre”, the Somali Chamber of Commerce and Industry (SCCI) Chairman
- Ahmed Shirwac Mohamed, the Somali Bankers Association (SBA) Chairman
- Abdullahi Omar Adan, SomBank CEO
- Ygor Scarcia, UNIDO Country Representative
- Senior officials from the Central Bank of Somalia and the NCA
- Other dignitaries and guests
This achievement follows the Mobile Money Regulations passed in 2020. These rules allow only NCA-licensed telecom operators to receive mobile money authorization from the central bank. As SomLink Telecom meets all requirements, it now provides the technical backbone for the eBesa platform.
Once launched, eBesa will offer services such as deposits, peer-to-peer transfers, bill payments, and merchant payments. These tools aim to reduce the country’s reliance on cash and improve access to modern financial services.
Moreover, the platform will play a key role in reaching underserved communities. It will help individuals and businesses make faster, safer, and more convenient transactions.
By combining IBS Bank’s operational leadership with SomLink’s telecom infrastructure, eBesa is well-positioned to support Somalia’s move toward a more inclusive and digital economy.
The official launch of eBesa is coming soon. Stay tuned for updates.
