Orange, a telecoms provider in Africa and the Middle East, and NSIA, a leader of bancassurance, have launched Orange Bank Africa in Abidjan and Côte d’Ivoire
Orange Bank Africa, headed by Jean-Louis Menann-Kouamé, will provide clients with a range of simple savings and credit services that are available through mobile phone at all times.
Orange Bank Africa will address the needs of a large part of the population, often excluded from the conventional banking world, allowing them to borrow and save small amounts which are nevertheless essential to their daily lives. When it launches, Orange Bank Africa will offer a range of savings and micro-credit services through its Orange Money service allowing clients to borrow as little as 5,000 CFA francs instantly using their mobile phone.
Orange’s mobile financial services strategy in Africa aims to offer solutions accessible to the broadest population regardless of their income or where they live.
Orange chairman and CEO, Stéphane Richard, explained, “New technology is needed to strengthen financial inclusion and support economic development, as proven by mobile money over the past few years. Banking is a new area of business for Orange in Africa.
“It falls squarely in line with our strategy as a multi-service operator and our desire to drive the digital transformation forward in Africa. Based on our association with NSIA, also a leader on the market in Africa, we provide easy access to bank services for as many people as possible, with simple and essential services that benefit all our clients.”
Jean Kacou Diagou, CEO of NSIA, said, “We know that electronic banking is vital for the financial inclusion of our customers. We are proud to have combined our expertise and human capital with that of Orange to create the fully digital Orange Bank Africa.”
Orange Bank Africa will expand into Senegal, Mali and Burkina Faso.
