Orange has announced that it has launched its Orange Money suite of financial services in Morocco, broadening the reach of its financial footprint across its Middle East and Africa footprint.
Orange Money will allow Moroccans to make mobile payments and transfer money on their mobile phone. The launch comes following approval from Bank Al Maghrib.
Morocco is the eighteenth country in the Middle East and Africa region in which Orange has launched financial services and products.
Orange Money provides every mobile user, regardless of the particular telecoms operator to whom they subscribe, the option of having a mobile wallet linked to their phone number. Orange Money users are able to carry out financial transactions, pay for phone recharges remotely or withdraw money from their Orange Money wallets at points of sale approved by Orange Money Maroc.
Mobile money for financial and societal inclusion
Orange has made financial services one of the key pillars of its expansion in the MEA region.
“Mobile money is revolutionising Africa’s economy. A key driver in the continent’s economic growth, Orange Money is a real vehicle for increasing the financial inclusion of populations and the digitalisation of the continent,” an Orange spokesperson said.
Orange says that it will continue to expand its financial service offering across MEA and into more lucrative markets in Europe.
Orange Money to drive Group growth
“As one of the Group's main growth drivers on the continent, the service is constantly evolving for the benefit of populations, companies, institutions and governments,” said the Orange spokesman.
Orange launched its first financial services offering in 2008 and the company’s mobile money solution now allows millions of people excluded from the banking system to be able to deposit, withdraw, transfer and make payments easily and simply from their mobile phone, with complete security. 12 years on from its launch, Orange Money continues to record exponential growth. The service is now available in 18 countries. 45 million customers trust this solution and the volume of transactions carried out through Orange Money reached 2.6 billion in 2019.