Orange expands mobile money offering in Africa
17 September 2014 | Kavit Majithia
Orange has signed partnerships with a range of African banks to expand its mobile payments service and compete more effectively with Vodafone’s M-Pesa offering.
French operator Orange has struck a mobile payments deal with Bank of Africa to facilitate the transfer of money between an Orange money account and a bank account through mobile.
The company has also struck similar deals with other regional banks, including Ecobank, confirmed the company’s EVP, Marc Rennard.
Mobile money took off in Africa in particular because of the continent’s lack of banking access, and the M-Pesa offering became extremely popular in Kenya.
Orange’s offering, which will allow customers to transfer money between people and pay for goods and services, will be available in Madagascar, Cote d’Ivoire, Mali, Senegal, Niger and the Democratic Republic of Congo.
Orange Money presently has 11.5 million customers, and transactions on the platform reached €2.2 billion in 2013.
Questions have been raised over Orange’s commitment to maintaining its presence in the region, and Rennard has claimed the company is now looking to expand into other African countries.
Orange is reportedly eyeing licences or businesses in Togo and Mauritius, and still believes there is growth potential in the region.
27m | Alan Burkitt-Gray
9h | Alan Burkitt-Gray