Payment methods in Sierra Leone
The Salone Payment Switch launched in 2024/2025 as Sierra Leone's new national instant payment system.
Market takeaways
- The Salone Payment Switch launched in 2024/2025 as Sierra Leone's new national instant payment system.
- Orange Money operates in Sierra Leone as part of its multi-country West African network.
- Low formal banking penetration; mobile money is the primary financial inclusion vehicle.
- Africell Money (from Africell, one of the country's major telecom operators) competes in the mobile money market.
- Sierra Leone is among African countries developing new instant payment systems as part of AfricaNenda's initiative.
Population
~9M
Online population
~3M
Banked population
~20%
Mobile Money Penetration
~30% of adults
Credit card population
~2%
Payment method breakdown
- Cash63%
- Mobile Money30%
- Bank Transfer5%
- Card2%
- Other0%
Card scheme breakdown
- Visa55%
- Mastercard40%
- Local Schemes5%
- Other0%
Cross-border e-commerce
Market data coming soon.
Featured payment methods in Sierra Leone
Popular options based on coverage and prominence in this market.
Africell Money
Africell Money is the mobile financial services offering from Africell, a pan-African operator with a strong presence in The Gambia. It competes directly with QMoney, offering P2P transfers, merchant payments, international remittance reception, and utility bill payments. Africell has a significant subscriber base and its mobile money service contributes substantially to the country's digital financial ecosystem.
e& money
e& money is the first digital wallet licensed by the Central Bank of the UAE, offered by e& life, supporting online payments, money transfers and bill payment. Operator: e& life (formerly Etisalat). Est. users: Large user base, telecom-backed (2024, best estimate).
Orange Money
Orange Money is Orange Jordan's mobile wallet connected to CliQ under Central Bank of Jordan supervision, enabling online payments, transfers and bill payment. Est. users: Large telecom-backed user base (2024, best estimate).
Salone Payment Switch
The Salone Payment Switch is Sierra Leone's new 24/7/365 instant payment system, launched in 2024/2025. It enables real-time interbank transfers and aims to provide infrastructure for interoperability between banks and mobile money providers.
All payment methods in Sierra Leone
Discover 4 payment methods from around the world
Featured banks in Sierra Leone
Major institutions operating in this market.
OTP Bank
Budapest, Hungary
OTP Bank is Hungary's largest bank and the dominant financial institution in the country, with significant regional presence across Central and Eastern Europe and the Balkans.
Zenith Bank Nigeria
Lagos, Nigeria
Zenith Bank is Nigeria's largest bank by assets, offering retail, SME, corporate, and investment banking, with operations across Africa.
GTBank (Guaranty Trust Holding)
Lagos, Nigeria
GTBank (now GTCO Holdings) is one of Nigeria's leading banks, known for digital innovation and strong retail and corporate banking.
First Bank of Nigeria
Lagos, Nigeria
First Bank of Nigeria is the country's oldest bank (est. 1894) and a leading retail and commercial bank, with operations across Africa.
Republic Bank (T&T)
Port of Spain, Trinidad and Tobago
Republic Bank is Trinidad and Tobago's largest bank, with operations across the Caribbean. It offers retail, corporate, and investment banking.
Other Banks — Sierra Leone
Freetown, Sierra Leone
Aggregate of remaining banks in Sierra Leone, collectively ~100.0% of domestic banking assets.
All banks in Sierra Leone
Showing 6 of 6 banks
