Telco company, Orange, has partnered with NSIA to launch Orange Bank Africa in Abidjan and Côte d’Ivoire.
Orange Bank Africa will offer customers a variety of savings and micro-credit products which they can access anytime via their mobile phones. This move aims to serve the larger unbanked population that are often locked out from accessing most financial services.
Orange Chairman and CEO, Stéphane Richard, said, “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.”
NSIA, CEO Jean Kacou Diagou, said, “I am very pleased that the partnership between Orange and NSIA has resulted in the creation of Orange Bank Africa. For the past 25 years, NSIA Group has been developing bank and insurance solutions to address the needs of African people and make them available to as many people as possible.
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, currently being headed by Jean-Louis Menann-Kouame, is planning to expand into Senegal, Mali and Burkina Faso with the intention of spearheading financial inclusion in West Africa.
NSIA Group provides financial services that cover banking and insurance products and services. NSIA Group is made up of three banks, three bank branches, 21 insurance companies, a management and intermediation companies, a UCITS manager, a property company, a reinsurance broker, and a foundation. It currently employs close to 3,000 people.