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Sao Tome and Principe: fintech & payments regulation

Regulated

BCSTP-regulated payments under Law 17/2018; no specific fintech/VASP license

Lead regulator:
Banco Central de Sao Tome e Principe (BCSTP)
Key law:
Law No. 17/2018 (Legal Regime of the National Payments System)
Last updated:
2026-07-12

The Central Bank of São Tomé and Príncipe (BCSTP) is the sole supervisor of the National Payments System, empowered to license and oversee payment operators under Law No. 17/2018. This framework mandates licensing for payment system operators and requires strict financial and operational controls to ensure stability.

While there is no dedicated fintech or virtual asset service provider (VASP) licensing regime identified in the provided documents, payment activities generally fall under the BCSTP's supervisory authority. The regulator also oversees specific payment instruments, including checks, POS terminals, and interbank clearing systems like SICOI and SIBANC.

The regulatory environment emphasizes financial inclusion through mandatory Financial Inclusion Accounts and mandates the use of the Dobra24 network for domestic transactions. Foreign exchange operations are liberalized under Decree-Law No. 32/99, with the BCSTP acting as the sole authority.

Who regulates

  • Banco Central de Sao Tome e Principe (BCSTP)

    Primary supervisor of the National Payments System, financial institutions, and foreign exchange.

    [1][2]

Core laws & rules

  • Law No. 17/2018 (2018)

    Establishes the legal framework for the regulation, superintendence, and management of the National Payments System, empowering the BCSTP to license operators.

    [1]

  • Law on Financial Institutions (1992)

    Provides the comprehensive regulatory framework for all financial entities, including licensing, capital adequacy, and governance standards.

    [3]

  • Decree-Law No. 32/99 (1999)

    Reforms the foreign exchange framework, establishing the BCSTP as the sole authority and mandating a fully liberalized market.

    [2]

Licensing & registration

  • Payment System Operator

    The BCSTP licenses operators of the National Payments System and controls their financial and operational activities.

    [1]

  • Financial Institution

    Comprehensive authorization required for banks, investment banks, and microfinance institutions, involving capital requirements and feasibility studies.

    [4][5]

  • Exchange Office

    Strict authorization procedures with minimum capital and guarantee requirements for exchange offices.

    [6]

Restrictions & warnings

  • Mandatory installation of dobra24 POS terminals for public, state-participated, and private commercial entities, with tiered compliance deadlines.

    [7]

  • All authorized domestic banks must offer Financial Inclusion Accounts (FIA) to ensure affordable access for financially disadvantaged individuals.

    [8]

  • Licensed commercial, investment, and development banks are mandated to participate in the electronic and physical clearing processes of the SICOI system.

    [9]

Direction of travel

  • The regulatory framework continues to modernize payment infrastructure, including the adoption of IBAN standards and the standardization of check processing.

    [10]

  • No specific recent developments regarding virtual assets or dedicated fintech licensing regimes are evident in the provided source documents.

    Low confidence — verify with the regulator before relying on this.

Sources

  1. Legal Regime of the National Payments System · 2018-09-07
  2. Official Gazette - Foreign Exchange Law of São Tomé and Príncipe · 1999-10-25
  3. Official Gazette of the Republic – Law on Financial Institutions · 1992-06-17
  4. Regulation on the Authorization Application for Financial Institutions · 2011-12-30
  5. Regulation (NAP) - Licensing and Exercise of Microfinance Activities · 2019-06-26
  6. Regulation (NAP) - Regulation of Exchange Offices · 2009-12-31
  7. Decree No. 16/2021 – Mandatory Installation and Provision of POS Terminals · 2021-12-02
  8. Regulation (NAP) – Financial Inclusion Account · 2025-03-11
  9. Regulation of the Interbank Clearing System — SICOI (Tele-clearing) · 2010-06-21
  10. Regulation (NAP) - Check Processing · 2018-07-09

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This guide is compiled automatically from 10 primary-source documents published by Sao Tome and Principe's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.