" ITREALMS: FinTech: Orange Money celebrates decade in Africa with 40m customers - ITREALMS

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Monday, October 01, 2018

FinTech: Orange Money celebrates decade in Africa with 40m customers - ITREALMS

Orange Money, Orange’s mobile money solution, is celebrating its 10th anniversary. Launched in 2008, the service currently has 40 million customers and is available in 17 countries, reaching €26 billion in transactions in 2017, reports ITREALMS.

Orange Money, ITREALMS gathered, is now one of the group’s leading growth drivers and continues to evolve to better serve people, companies, institutions and governments.

Initially launched in Côte d’Ivoire in 2008, Orange Money has become a success of this money transfer and mobile payment solution for unbanked or relatively unbanked populations is based on the accessible, universal nature of the service, which makes it possible for millions of people to perform instant, secure and reliable financial transactions using their mobile phone.

ITREALMS also gathered that out of the 40 million customers of Orange Money that some 13 million of whom use it every month. 

Orange Money’s accelerating growth and sales, industry watchers say rose from 60 per cent from 2016 to 2017 have made it one of the Group’s top growth drivers in Africa, particularly in Côte d’Ivoire, Mali, Burkina Faso, Senegal and Cameroon. In some countries, the service gives close to 50 per cent of users access to banking services in areas with low levels of bank usage.

Nenye Dom/GEE

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