PAN-African groups Oragroup – which operates in 12 countries in West and Central Africa – and Axian – and present in 6 countries across Indian Ocean and mainland Africa, join forces to accelerate financial inclusion in Africa. The two entities will leverage the digital revolution to offer innovative financial services (e-money, mobile financial services, online nano-savings, etc.) to the continent’s underprivileged populations.
Following this merger, Oragroup’s branches and subsidiaries will form long-term partnerships with various mobile-network operators to develop high-quality digital financial services for specific user groups. A pilot project to this effect is already underway in Togo, and both Orabank Togo and the telecom operator Togocom will soon launch their MBanking platform. Using said platform, users will be able to carry out bank-to-wallet and wallet-to-bank operations by linking their bank accounts to accounts that they create with their operators. Account-management services such as verifying balances or transaction history and eventually nano-savings/credit products will also be offered to users.
Oragroup has established itself over the years as a major supporter of African SMEs and SMIs. Today, the group is going further in service of this commitment by now focusing on segments of the population, who have been marginalized as a result of progress. This announcement also illustrates Axian’s commitment to sustainable, inclusive economic growth in Africa. Today, the company is a key partner in the socio-economic development of the many countries in which it operates.
Oragroup and Axian intend to develop these services in all the countries where the banking group is already established, but will congruously seek opportunities to bring these products and services to markets where Oragroup does not yet have a foothold.
Ferdinand Ngon Kemoum, Chief Executive Officer of Oragroup, said:“Oragroup is delighted to partner with Axian to support the digital revolution in Africa. After the KEAZ application and its multi-channel platform, which gives customers the possibility to execute their transactions wherever they are, Oragroup is once again committed to financial inclusion. The group is proud to offer mobile banking services that will enable a large number of Africans to become citizens of the digital world.”
Matthieu Macé, CEO of Open Innovation & Fintech division in Axian, adds: “It is with determination that Axian joins forces with Oragroup to support and strengthen financial inclusion in Africa. Our group has always set itself the goal of working towards more inclusive and sustainable human and economic development in the Indian Ocean and Africa. The digital transformation is a major lever for development and we hope that the financial services that will emerge from this partnership will encourage the empowerment of Africa’s most vulnerable groups of the population.”
– Dec. 15, 2020 @ 18:25 GMT /