More Africa NewsOrange Bank Africa continues its development in Africa and announces its upcoming opening in Senegal

October 12, 2023by myles0

Committed to promoting financial inclusion in Africa for more than three years in Ivory Coast, Orange Bank Africa (OBA), announces its expansion in Senegal.

According to the World Bank, financial inclusion indicators in Africa remain below the global average. In fact, only 35% of the population has a bank account, 15.4% saves with financial institutions and 6.7% have access to credit. In this context, 86% of African countries have an inclusion rate below 50%. Faced with this reality, Orange Bank Africa (OBA) is resolutely committed to improving financial inclusion in West Africa.

In order to make this commitment a reality, the opening of a branch in Senegal marks a significant step. Indeed, this announcement, following the favorable decision of the WAMU Banking Commission, attests to the fact that the Orange Bank Africa innovation model and expertise are recognized. With its range of financial products, including its flagship digital credit and savings product, Tik Tak, the bank will allow Senegalese people to easily access instant loans of 5,000 to 1,000,000 FCFA, available 24/7. 7 nationwide.

“ The upcoming opening of our branch in Senegal is a major step in our evolution. I would like to warmly thank the Senegalese authorities for their confidence in Orange Bank Africa’s business model, which emphasizes financial inclusion. For 3 years, our bank, focused on listening and customer satisfaction, has achieved remarkable performances in Ivory Coast, rising to first place in terms of number of customers, throughout the UEMOA zone. We are committed to bringing to the people of Senegal the best of what we have achieved on the Ivorian market. ” Jean-Louis Menann-Kouamé, Managing Director of Orange Bank Africa.

Orange Bank Africa has indeed already proven its value by injecting more than 220 billion FCFA into Ivory Coast thanks to its instant credit offer, for the benefit of people who, for the most part, had never had a relationship with a bank . This approach focused on simplicity and availability is perfectly suited to the Senegalese market, where it will help meet the challenges of financial inclusion.

About Orange Bank Africa

Orange Bank Africa was born from a partnership between the Orange Group and the NSIA Banque banking and insurance group, two leading players in their respective markets. The 100% digital bank is committed to strengthening financial inclusion in the UEMOA zone, with the aim of improving the quality of life of populations. It allows people to access innovative and simple solutions based on mobile services. One of its flagship products, the Tik Tak loan, allows its customers to receive up to 1,000,000 CFA francs in less than 10 seconds on their Orange Money account. Orange Bank Africa draws on the expertise of the Orange Group in financial services, as evidenced by the success of Orange Money in more than 17 African countries since 2008. Based in Abidjan, Ivory Coast,


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