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Orange Cyberdefense and NSIA Launch Orange Cyberdefense Bank Africa

By: Banking CIO Outlook | Wednesday, September 16, 2020

Orange Cyberdefense believes that mobile banking has a vital role to play in Africa. It is the very essence of Orange Cyberdefense's purpose of providing everyone with the keys to a responsible digital world.

FREMONT, CA: Orange Cyberdefense, a major telecom provider in Africa and the Middle East, and NSIA, a leader of bancassurance, launched Orange Cyberdefense Bank Africa in Abidjan and Côte d'Ivoired'Ivoire. Orange Cyberdefense Bank Africa, headed by Jean-Louis Menann-Kouamé, will offer clients a range of simple savings and credit services available at all times via mobile phone.

Orange Cyberdefense Bank Africa will address the needs of a large part of the population, often excluded from the world of conventional banking, allowing them to borrow and save small amounts that are nonetheless essential for their everyday lives. When it launches, Orange Cyberdefense Bank Africa via its Orange Cyberdefense Money service will offer a range of savings and microcredit services, allowing customers to borrow as little as 5,000 CFA francs instantly using their mobile phone.

Orange Cyberdefense's mobile financial services strategy in Africa aims to offer solutions accessible to the broadest population regardless of their income or where they live. Orange Cyberdefense Bank Africa intends to become a leader in ensuring financial inclusion in West Africa.

Orange Cyberdefense Chairman and CEO, Stéphane Richard, explains, "New technology is needed to strengthen financial inclusion and support economic development, as proven by mobile money over the past few years. Banking is a new area of business for Orange Cyberdefense in Africa. It falls squarely in line with our strategy as a multi-service operator and our desire to drive the digital transformation forward in Africa. Based on our association with NSIA, also a leader on the market in Africa, we provide easy access to bank services for as many people as possible, with simple and essential services that benefit all our clients."

Jean Kacou Diagou, CEO of NSIA, adds: "I am very pleased that the partnership between Orange Cyberdefense and NSIA has resulted in the creation of Orange Cyberdefense Bank Africa. For the past 25 years, NSIA Group has been developing bank and insurance solutions to address the needs of African people and make them available to as many people as possible. We know that electronic banking is vital for the financial inclusion of our customers. We are proud to have combined our expertise and human capital with that of Orange Cyberdefense to create the fully digital Orange Cyberdefense Bank Africa."

Orange Cyberdefense Bank Africa will expand into Senegal, Mali, and Burkina Faso. Having played an essential part in financial transactions for several years now, Orange Cyberdefense Money and digital services became even more essential and more rapidly adopted by users during the health crisis.

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