Orange reports jump in mobile money base - Mobile World Live

Orange reports jump in mobile money base

25 OCT 2018

The number of customers registered to Orange Money in the Middle East and Africa (MEA) increased by 25 per cent year-on-year in Q3 to 40.2 million, the company said.

During an earnings update, Orange said revenue from mobile money services had increased 34 per cent year-on-year across its MEA footprint, though it didn’t breakdown specific revenue figures for the service.

Of the 40.2 million people registered on its platform, 13.6 million had used the service to perform at least one transaction during the month of September, the company added.

CEO Stephane Richard said Orange Money was one of the main drivers behind the growth of its Middle East and Africa division, where the company also reported increased sales and data usage.

In a Tweet posted shortly after the company’s earnings announcement its deputy CEO for mobile financial services Paul de Leusse (pictured) said the growth in customer numbers was “a very encouraging signal for our financial services activities” in MEA.

Orange Money is available across 17 markets, primarily in Africa. However, last month de Leusse said the platform also had potential in Europe, describing it as the future of its mobile financial services across its markets.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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