MICROCAPITAL BRIEF: BNP Paribas, Orange to Allow Money Transfers Between Bank Accounts, Mobile Money Accounts in Cote D’Ivoire

BNP Paribas, a France-based financial services provider with operations in 84 countries, and Orange, a French telephone and Internet service provider, have announced that their customers in Cote D’Ivoire will now be able to transfer money between their bank accounts and their accounts with Orange Money, Orange’s mobile money service. Previously customers had to add money to their Orange Money accounts by making deposits at agent shops. The Orange money service allows users to carry out payments for goods and services and purchase airtime credit. The BNP-Orange service is expected to be extended to Senegal later this year.

BNP Paribas reported total assets of USD 2.7 trillion as of 2011. Newer financial information is unavailable. Orange reported a customer base of approximately 239 million customers, including approximately 100 million in Africa, as of 2013. The firm’s consolidated revenues reached EUR 41 billion (USD 55.7 billion) in 2014.

By Juan Blanco, Research Associate

About Orange S.A

Orange S.A. (Orange), is a multinational information and communication technology service provider that is based in France and offers fixed telephony, mobile telephony and internet services. The company was created in the early 1990s, when Hutchinson Telecom acquired a controlling stake in Microtel Communications Limited and reorganized it under a new brand name “Orange”. In 1999, Orange became a subsidiary of Mannesmann, and in 2000 it was acquired by France Télécom. Orange is currently present in 30 countries, including 18 nations in Africa. As of March 31, 2014, its customer base included approximately 239 million customers, including approximately 100 million in Africa. The firm’s consolidated revenues reached EUR 41 billion (USD 55.7 billion) in 2014.

About BNP Paribas

Resulting from the 2000 merger between two French banks, Banque Nationale de Paris (BNP) and Paribas, BNP Paribas is a financial services provider headquartered in Paris. The bank has operations in 84 countries and focuses on retail banking, investment banking and wealth management. As of June 2011, it reported total assets of USD 2.7 trillion.

Sources and Additional Resources

[1] BNP Paribas, “Orange and BNP Paribas Open New Retail Mobile Banking Services in Africa with Orange Money,” 2014, http://www.bnpparibas.com/en/news/press-release/orange-and-bnp-paribas-open-new-retail-mobile-banking-services-africa-orange-mone

MicroCapital, May 31, 2014, Technology Provider Orange Offering $80k Via 2014 African Social Venture Prizes, Partner Award

MicroCapital, September 14, 2013, Orange, Visa Partner to Enhance Orange Money Mobile Payment System in Botswana

MicroCapital, April 10, 2012, International Finance Corporation (IFC), BNP Paribas Partner on $100m Facility to Increase Agriculture Financing in Sub-Saharan Africa, Eastern Europe

MicroCapital, January 25, 2011, BNP Paribas Loans $4.65m to The Lead Foundation to Support Microfinance in Egypt, United States Agency for International Development Egypt (USAID/Egypt) Guarantees 50% of Principal

MicroCapital Universe Profile: BNP Paribas

MicroCapital Universe Profile: Orange S.A.

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