Friday
July 24
2020

Orange Launches Banking Play in Africa

By Chris Donkin

Orange teamed with financial services company NSIA to launch mobile banking services into its first African market, Ivory Coast, with plans to expand into Burkina Faso, Mali and Senegal.

Under the Orange Bank Africa brand, the company will provide savings and credit facilities to customers of its existing mobile money product. Small loans start at XOF5,000 ($8.83) with savings offering 3.5 per cent annual interest, subject to terms.

The service will be completely mobile-based, as with the operator’s Orange Bank in France and Spain.

Photo courtesy of CTA ACP-EU.

Source: Mobile World Live (link opens in a new window)

Categories
Finance
Tags
banking, digital finance, financial services, LMICs, mobile banking, mobile money