After being granted an approval last summer by financial services industry regulator Bank Al Maghrib, Orange Morocco has announced the launch of Orange Money in Morocco. The service will enable Moroccans to make mobile payments and transfer money using their phones.
Morocco now becomes the 18th country in the Africa and Middle East region where Orange offers the Orange Money transfer solution.
Orange Money offers every mobile user, regardless of their telecom operator, the option of having a mobile wallet backed by their phone number. The solution allows mobile phone users to carry out financial transactions, pay for phone recharges remotely or withdraw money from their Orange Money wallets at points of sale approved by Orange Money Maroc.
Non-Orange customers can also take advantage of the service by downloading the mobile application.
The launch of the service in Morocco comes at a time when mobile money is revolutionising Africa’s economy and has been recognised as a key driver in the continent’s economic growth.
Since its launch in 2008 in Ivory Coast, 45 million customers in 18 countries rely on Orange Money to access simple and secure financial services that make life easier every day.
Apart from Ivory Coast and Morocco, Orange Money services are currently available in Botswana, Burkina Faso (under the Airtel Money brand), Cameroon, Central African Republic, DRC, Egypt (where it’s branded as Orange Cash), Guinea, Liberia (under the Smile Money brand), Madagascar, Mali, Mauritius, Niger, Senegal, Sierra Leone (also under the Airtel Money brand) and Tunisia.
The service allows millions of people excluded from the banking system to be able to deposit, withdraw, transfer and make payments easily and simply from their mobile phone, with complete security. 12 years on since its launch, Orange Money continues to record exponential growth. The service is now available in 18 countries. 45 million customers trust this solution and the amount of transactions carried out through Orange Money reached 2.6 billion euros in 2019.
Orange’s ambition is to make mobile money an essential means of payment and to become a leading player in mobile financial services in Africa and the Middle East including savings, credit and insurance in strict accordance with the banking regulations of the countries where it operates.