The telecoms operator said on Wednesday the opening of a center of expertise in accordance Orange Money (CECOM) in Abidjan that will accompany its range of financial services in Côte d’Ivoire, Senegal, Mali and Guinea . Objective: To secure and expand its customer base in this promising segment including through microfinance and microinsurance.

The French telecom operator Orange launched Wednesday, September 7 at his Abidjan regional center of expertise in accordance Orange Money (Cecom), a platform dedicated to the management of risks related to its offer of financial transfers on mobile ( Mobile Money ) in Côte d’Ivoire, Mali, Senegal and Guinea.

All Cecom the data is hosted in the Orange platform Services in Abidjan, the “technology center” which has acquired the operator in the Ivorian economic capital in 2010.

Big ambitions

The new structure supports the ambitions in the area of ​​financial services of the Orange Group which obtained in March an electronic money issuer license establishments (HES) valid in Senegal, Mali, Côte d’Ivoire and in Guinea. This approval can manage without banking partner bill payments or transfers of money from the Orange Money accounts of its customers.

The  Mobile Money  has become one of the major poles of development of Orange, who made ​​about 80 million euros of revenue through the service in 2015 to 8 billion euros of transactions [the French group achieved year last a turnover of 4.9 billion euros in the Africa and Middle East] region.

“The Ivory Coast is the birthplace of Orange Money. We grew it. But countries like Guinea, Senegal and Mali have quickly reached the critical threshold of this activity, “said at a press conference on Wednesday in Abidjan Marc Rennard, deputy general manager of the Orange Group in charge of the customer experience and  mobile banking .

In June, the offer Orange Money had 19 million customers in Africa and the Middle East (+ 36% yoy).

Investments and new jobs

Orange has big ambitions for its mobile money offering, as  the French group launched in France in June .French multinational hopes to boost to 200 million euros by 2018 the revenues generated by this offer.

The value creation opportunities through Money orange are numerous. The resources channeled through this offer could include invested in investments paid from the West African financial market.

Also, and to boost the development of its financial services offering mobile, Orange intends to forge partnerships including microcredit and microinsurance (EME status does not allow the operator to be a credit institution) .

Orange Money users can already perform money transfers and pay bills through this offer. Thierry Millet, Director Orange Money mobile payment and contactless, one of the steps will focus on partnerships with multinational agribusiness to facilitate payment of their often far settled farmers suppliers of large urban centers.

Orange could also introduce in its subsidiaries in West Africa and Central Africa offering prepaid payment cards Orange Money is already available in Botswana in partnership with Visa, American specialist in payment card.