Orange Money is an innovative, mobile phone-based system that allows customers to carry out simple banking operations and transactions. Such services offer a huge potential in Botswana where less than 40% of the population have access to a bank account and yet nearly all have a mobile phone.
From the launch, Orange customers who register for Orange Money and activate their mobile wallets will have access to various services, including:
Commenting on the launch, Elisabeth Medou-Badang, Orange Botswana's CEO stated: "Orange Money is a very important part of our strategy. Mobile payment services have the potential to bring cost-effective and secure access to banking services to people with low-incomes, who often live in rural or remote areas. By providing our customers with the means to save money, pay bills and run their businesses, we are not only reinforcing customer loyalty but we are also able to play an active role in the economic development of the country."
To launch the new service Orange partnered with Standard Chartered Bank, following the signature of a strategic partnership between Orange and the bank. Commenting on the partnership, the acting CEO of Standard Chartered Bank Botswana Michael Wiegand said: "We are happy to partner with Orange and collaborate to bring this innovative range of new services to the market. This will increase access to basic financial services and go a long way towards banking the unbanked."
