A unit established by Orange will manage risk and compliance issues for the group’s electronic money activities in four African countries.

The announcement, although somewhat technical, reflects the growing importance of mobile money to the company.

The four countries are Senegal, Mali, Cote d’Ivoire and Guinea, where Orange was awarded electronic money establishment (EME) licences in early 2016.

The EMEs have responsibility for the issuance, management and distribution of electronic money for Orange, as well as managing compliance (the EME effectively takes over the role from Orange’s partner banks). Finally, the EMEs coordinate requests to Central Banks for launching new services.

The company has created the Orange Money Compliance Expertise Centre (Cecom) in Abidjan in Ivory Coast, to provide second-level control for the Orange Money business (the EMEs themselves provide first-level control).

The move demonstrates the growing importance of such activities within the group. For instance, Orange Money represents as much as 10 per cent of the operator’s total revenue in Ivory Coast.

Marc Rennard, deputy CEO in charge of customer experience and mobile financial services, said: “With this new milestone, mobile financial services become an integral part of Orange’s DNA.”