Orange Bank Africa was officially launched today. Electronic banking is starting up under the banner of the French group and under license from NSIA Banque.
From its launch, Orange Bank Africa, 25% owned by NSIA and Sonatel, with a capital of CFA Franc 14.5 billion, will offer, through the Orange Money channel and its 4 million prospects, a savings offer and micro credit to borrow from 5,000 FCFA instantly from your mobile. Thus, the objective of Orange Bank Africa is to become the benchmark player in financial inclusion in West Africa.
“New technologies are necessary to strengthen financial inclusion and support economic development, as mobile money has proven in recent years,” said Stéphane Richard, Chairman and CEO of Orange, on the sidelines of a webinar organized this July 23. “Banking activity is new for Orange in Africa. It is fully consistent with our strategy as a multi-service operator and our desire to drive the continent’s digital transformation “. And to continue: “Thanks to our association with NSIA, another African market leader, we facilitate access to banking services to the greatest number, through simple and essential services, for the benefit of all our customers”.
For his part, Jean Kacou Diagou, Chairman of the NSIA group, said he was happy that the partnership concluded between Orange and NSIA gave birth to Orange Bank Africa. “For 25 years, the NSIA Group has been developing banking and insurance solutions tailored to the needs of African populations with the aim of making them accessible to as many people as possible. We know that banking digitization is a sine qua non for the financial inclusion of our populations. We are therefore proud to have been able to combine our expertise and human capital with those of Orange for the creation of the 100% digital bank Orange Bank Africa. “
Orange Bank Africa aims to expand into Senegal, Mali and Burkina Faso by relying on the Orange Money network, which has been at the heart of financial transactions for several years. Orange is convinced that Mobile Banking has a real role to play in Africa. It is the very embodiment of its raison d’être to give everyone the keys to a responsible digital world.