Malian’s Bank Partner Orange for new mobile financial services model in Africa

Malian’s Bank partnership with Orange Money

From Benjamin a ameh, Lagos

The bank of Africa group (BOA), a Malian origin and Orange signed partnership agreement to offer new mobile financial services in the continent

The partnership with Orange Money enhances our range of services enabling us to increase customer proximity while offering high-quality, simple and useful services, therefore, in the coming months, BOA and Orange Money customers will be able to transfer money directly from their Orange Money account to their BOA account and vice versa simply with their mobile.

Orange customers will have the opportunity to carry out safe and real-time banking operations, to transfer money, pay for goods and services (water, electricity, education, television bills, etc.) and purchase airtime credit without going to the bank or to the shop.

The large network of licensed Orange Money distributors will supplement the network of 450 BOA branches, offering a maximum number of cash withdrawal points to the customers of the two companies.

“The partnership between Orange and BOA illustrates Orange’s ambition to offer its customers high-quality services that are both easily accessible and easy to use. Our respective businesses complement each other making it easier for customers to manage their money using their mobile, wherever they are in the country and at any time of the day,” said Marc Rennard, Senior Executive Vice President, Africa, the Middle-East and Asia, Orange.

“The partnership with Orange Money enhances our range of services enabling us to increase customer proximity while offering high-quality, simple and useful services. This new service is also a ideal solution that meets our customers’ desire to carry out financial transactions any time and wherever they are,” says Alfa Barry, Deputy Director in charge of Marketing for the BANK OF AFRICA Group.

According to African Press Organization (APO)’s statement, this new service, which is designed for both individuals and professionals, is already available in Madagascar since August and will be extended to Côte d’Ivoire, Mali, Senegal, Niger and the Democratic Republic of the Congo in the coming months. BOA Madagascar is the first bank in sub-Saharan Africa to launch this service with Orange.

This is also the first step in a range of innovative financial services that will be developed by the two companies.

Orange Money currently has more than 11 million customers in 14 countries in Africa and the Middle East. Subscription to Orange Money is free of charge.

BANK OF AFRICA currently has millions of customers in 16 countries in Sub-Saharan Africa with establishment in 17 countries, of which 8 are in West Africa (Benin, Burkina Faso, Ivory Coast, Ghana, Mali, Niger, Togo and Senegal), 7 in East Africa and Indian Ocean (Burundi, Djibouti, Ethiopia, Kenya, Madagascar, Tanzania and Uganda), in the Democratic Republic of Congo and in France, through a network of 15 commercial banks, 1 finance company, 1 housing bank, 1 stock brokerage firm, 2 investment companies, 1 asset management firm and 1 representative office in Paris.

Since 2010, BMCE Bank (the second largest private bank in Morocco) is the majority shareholder of BOA Group. BMCE Bank provides it with strong strategic and operational support as well as direct access to international markets thanks to its presence in Europe and Asia.

Established almost 30 years ago in Mali, BOA Group presently has 5000 staff members, as at 31 December 2013 a consolidated total balance sheet of EUR 4.8 billion and it made a consolidated net profit of EUR 56.8 million.




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