French telecom giant Orange announces that it will successively launch its mobile bank, Orange Bank, in Madagascar and Mali in the first half of 2018, followed by Côte d’Ivoire and Senegal in the second half of the year.
According to Bruno Mettling, President and CEO of Orange for the Middle East and Africa, who made the announcement, the banking activities of Orange will extend to Niger and Guinea during the year 2019 .
Online banking will offer users in Africa services including simple savings products, access to credit services and insurance.
And Mr. Mettling to announce that Orange Bank will operate in the selected countries with an anonymous partner and that it will rely on the offers of Orange Mobile Money, available in Africa since 2008 and which has more than 12 million active users in 18 countries.
According to the group, the launch of Orange Bank is an illustration of its ambition to diversify its services, particularly in mobile financial services, which it believes offer significant growth prospects. The Group aims to reach € 400 million in revenue in 2018 in the mobile financial services sector in all its markets.
As a reminder, it was in 2016 that Orange acquired a majority stake in Groupama Banque, which became Orange Bank in 2017. Orange Bank was officially put into service last November when it became available in mainland France.
