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Orange and Ecobank launch money transfer service in Africa

The partnership between Ecobank and Orange is intended to enhance ease of transactions in Africa. (Image source: Ken Banks/Flickr)

Telecom company Orange and Africa’s Ecobank have launched a money transfer service between Orange Money accounts and Ecobank accounts in Africa

The partnership aims to facilitate money transfers for Ecobank and Orange customers, by offering the option of a top-up in their Orange Money e-wallet from their bank accounts, enabling ease of transactions.

According to officials from Ecobank, the joint strategy is meant to enhance mobile financial services and increase access to banking services across Africa. The partnership was agreed upon after Orange and Ecobank signed an MoU.

Laurent Paillassot, deputy CEO of Orange in charge of customer experience and mobile banking, said, “This partnership between Orange and Ecobank will further enrich customer experience. By facilitating exchanges between Ecobank and Orange Money accounts, our customers will be able to conduct financial transactions quickly and in complete security, bringing them the best of both worlds. We want to offer this service wherever it makes sense.”

The service has already been rolled out in Mali, and is expected to be launched in Cameroon, Côte d’Ivoire, Guinea Conakry, Niger, Senegal and DR Congo by the first half of 2015.

Orange and Ecobank’s latest facility allows customers to pay water, electricity and television bills, in addition to topping up their telephone airtime as well. Depending on the country where the service is available, they could even benefit from savings and insurance solutions, added officials.

According to Patrick Akinwuntan, Ecobank’s group executive in charge of domestic banking, the roll-out demonstrates Ecobank’s committment to make branchless banking a reality in Africa.

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