The Central Bank of West African States (BCEAO) has approved 9 new payment institutions within the UEMOA, according to information from Financial Afrik gathered from financial market players. In Côte d’Ivoire, Feexpay SA, Cinetpay Africa SA, and Dunya Digital Payment SA CI have been authorized. Intouch Guinea-Bissau has obtained its approval in Guinea-Bissau, while in Senegal, Samir Money Senegal SA, Versus Finances Tech-SA, Copay SA, and SESA Digital Finance SA have joined the list. In Togo, Intouch Togo has also been approved.
These new entrants bring the total number of approved payment institutions in the Union to 20, up from 11 at the end of May 2025.
This new wave of approvals reflects the acceleration of financial digitization in the UEMOA region. The arrival of new players specializing in mobile and digital payment solutions strengthens competition against historical operators, while diversifying the offering for individuals and businesses. BCEAO confirms its commitment to financial inclusion by expanding access to modern payment services, a crucial lever to stimulate trade and support the formalization of national economies. However, this expansion also raises challenges related to regulation, transaction security, and the sustainability of economic models in a market undergoing structuring.
