Orange Hits 10M Mobile Money Subscribers across Africa

APRIL 22,2014.

Orange Money hit 10 million mobile money subscribers mark across 12 African markets. It said it had made the right choice in rolling out the service in 2008 heralded the potential of mobile money to contribute to social and economic growth in the region. It’s 10 millionth user signed up in Dakar, Senegal and won a smartphone.


“I am very proud to be in Dakar today to meet our 10 millionth Orange Money customer. While making a strong contribution to economic and social development, mobile financial services also represent a major growth engine in Africa and the Middle East as well as in Europe for Orange,” said Stéphane Richard, chairman and chief executive officer (CEO) of Orange.


Orange said in 2013 over EUR2.2 billion (US$3 billion) passed through the Orange Money service, with the Ivory Coast leading in terms of uptake of the service, with over 40 per cent of Orange customers signed up for the mobile money service.

“The success of the Orange Money service is closely linked to that fact that it meets strong expectations by people in Africa and the Middle East. It adapts to lifestyles in countries where only a minority of inhabitants have bank accounts yet the majority have a mobile phone. It makes life easier for users every day by giving them a way to keep their money safe or by saving time on all of their transactions,” Orange said.


The service is expanding, with a range of innovative flagship projects currently being rolled out across Africa, Orange said. For example, in the Ivory Coast, Mali and Senegal, mobile to mobile international money transfers have been launched, dominating 15 per cent of the market in a matter of months.


The operator said new projects are planned for 2014, including the expansion of international transfers to new markets,  the creation of services for customers with bank accounts, and the development of interfaces for smartphones. The service’s distribution network is also being expanded, with a focus on the most remote regions.


“The Group also plans to expand its range of affordable financial and banking services and give as many people as possible access to them. Its objective is to turn them into indispensable services in the years to come, just as voice services, text-messaging and Internet access are today.”