State of the digital financial services market in Sierra Leone 2021

  • February 09, 2023


The fifth Annual Provider Survey conducted by the United Nations Capital Development Fund (UNCDF) and the Bank of Sierra Leone (BSL) in partnership with the Joint SDG Fund provides invaluable insight into the state of the digital financial services (DFS) industry in Sierra Leone. Over the past five years, the Annual Provider Survey has been instrumental in understanding the rapid changes in the DFS sector and identifying the barriers and challenges that providers face.

This survey is based on data collected from 12 providers, consisting of 10 commercial banks and 2 mobile network operators between June and August 2022. The report presents the number of players in Sierra Leone that offer DFS, the number of registered and active customers, the volume and value of transactions conducted on a monthly basis, the type of services offered in the market and the different DFS distribution channels available in the country. In addition, the report highlights the barriers and challenges that providers face, provides recommendations to address certain challenges, outlines the direction of DFS in the country and reveals global best practices.

This survey's results will be vital in informing policy-making to shape the future of digital financial services in Sierra Leone, with the aim of fostering a more inclusive financial ecosystem for its people. Download the full report.