MICROCAPITAL BRIEF: “Orange Money” Connects France, Ivory Coast, Mali, Senegal with Mobile Money Transfer

Orange, a France-based telecommunications company, recently expanded “Orange Money”, a mobile money service already used in 14 African countries by approximately 18 million people, to France, allowing customers to transfer money electronically to Ivory Coast, Mali and Senegal. Fees for using Orange Money are EUR 3 for transactions of EUR 100 or less, EUR 5 for transactions of EUR 100.01 to 250 and EUR 8 for transactions of EUR 250.01 to 400 (USD 3.4 for transactions of USD 113.34 or less, USD 5.67 for transactions of USD 113.35 to 283.31 and USD 9.07 for transactions of USD 283.32 to 453.36). The maximum amount per transaction is EUR 400 (USD 453.36). Orange Money has 41 points of sale in France and about 30,000 points of sale in Ivory Coast, Mali and Senegal.

Patrick Roussel, the consumer sales director at Orange France, said, “We are delighted to offer the Orange Money solution to our customers living in Metropolitan France and particularly to those with a link to Africa – this is a simple, secure and instant money transfer service between family and friends via mobile.”

As of 2015, Orange reported sales of USD 45 billion, with 155,000 employees and 252 million consumers as of March 2016.

By Jason Wei, Research Associate

Sources and Additional Resources

[1] Orange launches Orange Money in France to allow money transfers to three countries in Africa and within mainland France, http://www.orange.africa-newsroom.com/press/orange-launches-orange-money-in-france-to-allow-money-transfers-to-three-countries-in-africa-and-within-mainland-france?lang=en

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