About
Wave is an app-based mobile money service that is not run by a telecom operator. It was launched in Senegal in 2018 by the Wave Mobile Money group, and on 14 April 2022 its subsidiary Wave Digital Finance became the first non-bank, non-telco institution active in several WAEMU markets to receive an electronic money licence from the central bank, the BCEAO. Cash deposits, withdrawals and bill payments are free, and sending money to anyone costs a flat 1%. Wave had more than 20 million monthly active users as of June 2025, according to Financial Afrik.
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