Pan-African financial services group, United Bank for Africa Plc, and Orange Group have announced a strategic partnership to deliver innovative financial services across Africa.
The lender said in a statement on Wednesday that it had reached an agreement with the European and African telecoms operator to collaborate on the promotion of Orange Money.
Orange Money enables customers to transfer money from their mobile phone to other account holders domestically and abroad, as well as providing bill payment and other customer-focused solutions, according to the statement.
It said both UBA and Orange had a history of financial services innovation and their joint commitment to Africa made them natural partners.
The lender said a Memorandum of Understanding was signed on Wednesday in Paris by the Chairman, UBA Group, Tony Elumelu; the Chief Executive Officer, UBA Africa, Emeke Iweriebor, and the Chairman and CEO, Orange Middle East and Africa, Marc Rennard.
It said it committed both institutions to “collaborate on the delivery of innovative and convenient payment options to customers and implement a range of mobile financial services in African countries, where UBA and Orange Money platforms operate”.
According to the statement, the groups recognise the extraordinary revolution occurring in the digital banking space and are committed to providing customers with service excellence, built around efficient and trustworthy platforms.
“We are delighted to see the fruition of this partnership, which is capable of revolutionising mobile money payments across the continent and is very clear evidence of UBA’s commitment to Africa’s development and delivering financial inclusion to Africans,” Elumelu was quoted as saying.
“UBA, with its extensive network on the continent and large customer base, is the banking group of choice for us in this project and we are delighted with this partnership,” Rennard stated.
