Orange Money and Bank of Africa join forces to offer mobile banking in Africa
Bank of Africa (BOA) and Orange Money have signed a partnership to provide mobile banking services in Africa.Customers of both companies will be able to directly wire money from their mobile banking account to their BOA account, and vice versa.
They will also be able to perform real-time transactions such as money transfers, payments for goods and services and purchase of airtime.
"One of the additional benefits of this new service is the extensive network of authorised distributors of Orange Money, in addition to the 450 branches of Bank of Africa, which will provide maximum collection points and payment to all customers of both companies " according to a statement published by Lejecos newspaper.
The new service, accessible by individuals and professionals, is already available in Madagascar and will be extended to Côte d'Ivoire, Mali , Senegal, Niger and the DRC in the coming months.
A study published in 2014 by
Mobile phone manufacturer Ericsson states that mobile data traffic in Africa is expected to grow by nearly 20 times between 2013 and the end of 2019, with 930 million mobile subscriptions within five years.
Mobile banking is becoming increasingly popular, with 58 percent of mobile users in the region showing an interest in them, according to the survey.