David Hindolo Conteh, Executive Director of the Right to Life Advocacy Network-Sierra Leone, has called on the Bank of Sierra Leone (BSL) to implement stricter regulatory measures on mobile money services in the country.

Speaking in an interview aired on October 9, 2024, Conteh expressed concerns about the growing role of mobile money operators, such as Africell’s Afrimoney and Orange’s Orange Money, which he believes are functioning like unregulated mini-banks without adequate security provisions for customers.

Conteh highlighted that, despite the increasing reliance on mobile money platforms, there are serious gaps in consumer protection, particularly in cases where account holders pass away.

He stressed the importance of safeguarding customers’ funds and ensuring their next of kin can access those funds when necessary.

“These mobile money platforms hold significant amounts, sometimes up to NLe 50,000 or more, but there is no system in place to recover those funds in the event of a customer’s death,” Conteh noted.

He further criticized the lack of security checks to prevent theft, especially in cases where individuals close to a customer might have access to their Personal Identification Number (PIN) and could easily withdraw funds.

Conteh urged the Bank of Sierra Leone to enforce tighter regulations and security measures to protect consumers’ money from such vulnerabilities.

He emphasized the need for mobile money operators to ask for next-of-kin information during the registration process to address these issues.

In addition to his concerns about mobile money, Conteh accused the mobile network operators, Africell and Orange, of exploiting Sierra Leoneans by charging high fees for services that do not meet consumer expectations.

He criticized the National Telecommunications Authority (NaTCA) for failing to regulate mobile tariffs and for what he described as a lack of transparency regarding efforts to improve the quality of service. “The network quality is still poor, and yet the operators continue to raise tariffs without any accountability,” Conteh remarked.

Conteh further alleged that NaTCA may have been compromised, as it appears to prioritize fees collected from operators over the interests of the Sierra Leonean public.

He called on NaTCA to take immediate action and to be more proactive in addressing the concerns of consumers, arguing that they are employed by the people to serve the public’s interests, not those of telecommunications companies.

“We expect NaTCA to act in the best interests of Sierra Leoneans,” Conteh declared, urging authorities to take steps to ensure fair regulation and better service delivery for mobile users across the country.