MOGADISHU (Halbeeg News) – Somali government has directed the country’s telecommunication companies to register the sim cards of the clients, a move that makes the sim card registration compulsory for the first time in decades.
The country’s National Communications Authority has instructed the companies to adhere to a list of decisions issued by the National Anti-Money Laundering and Combating the Financing of Terrorism (NAMLC).
The regulatory body has given the companies an ultimatum of weeks to implement the directives, saying the orders should be implemented at the soonest time possible.
The NCA has ordered to obtain licenses from the Central Bank of Somalia for their mobile money services.
The regulatory directed the companies to ensure that their mobile money services on their network and mobile virtual network operators (MVNO) comply with the technical and operational guidelines set forth by the Central Bank and the decisions of the Executive Committee of NAMLC.
Mobile phone penetration in Somalia is high. It is estimated that 90% of Somalis have access to a mobile phone, while 70% of Somalis have access to 4G coverage. Every month Somalis conduct over 155 million transactions, worth $2.7 billion. Only 6% now use cash.
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