Ecobank and Orange launch mobile money and bank accounts transactions

Moustapha Fall and Elisabeth Medou Badang, Directors General of the Cameroonian branches of the Pan-African Banking Group, Ecobank, and the French telecom, Orange group, respectively, signed an agreement to formalize the launch of financial dealings between Orange Money and bank accounts of Ecobank clients on 9 July 2015.

This has now made it possible for Orange Money clients, who also have an account with Ecobank Cameroon, to directly put money into their account or vice versa. According to the two operators, this service also allows conjoint Ecobank and Orange Money clients to check the balance of their accounts as well as the last five transactions from their phones.

As a reminder, the two operators had announced the launch of this service in Cameroon in mid-2015 in February after a first positive experience in Mali. Customers of the two operators in Guinea, Niger, Senegal and in the DRC will also soon benefit from this new service, according statements by the two partners.

Orange Money has more than 12 million customers in 13 countries. In 2014, 2640 billion FCFA (about 4.5 billion euros) was substituted via this solution. Ecobank is not either novice in the field of mobile payment. Indeed, the Pan-African Banking Group had already entered into partnerships like this with Airtel mobile operators (2011) and MTN (March 2014).