After the banking institutions Ecobank, UBA, Orabank and Vista Bank, Orange Mobile Finance of Guinea (OFMG) turned to microfinance agencies. On November 4, 2021, the Managing Director of OFMG and the African Finance Corporation (COFINA) signed a partnership agreement in Kipé, in the municipality of Ratoma (Conakry). This partnership aims to allow Cofina customers the ability to conduct financial transactions without the need to travel.
« This partnership will allow Orange Money customers and Cofina customers to make transactions between their bank and their Orange Money account. This has a huge advantage as it will prevent them from having to travel to the bank in order to make withdrawals or deposits. They will do this wherever they are from their mobile phone Abdelkarim Bangura, Managing Director of Orange Finances Mobiles in Guinea, explained. From their Orange Money accounts, he says, Cofina customers can withdraw or deposit money from their existing Cofina accounts and vice versa. They can also Make Orange Money transfers to their partners and their families He says he is happy to have such a relationship with Covina: Today we are delighted with this partnership that enriches the Orange Money regions. So this is a service that will work . »
Sekou Omar Diakite, CEO of Cofina, first explained his company’s career: “ Covina came to offer Guinea and Guinea financial inclusion. Cofina, through its offering of products and services tailored to meet the needs of Guinea’s Small and Medium Enterprises (SMEs) as well as the population, wishes to support the economic development of Guinea. . »
For him, this partnership will embody one of Covina’s ambitions: “ Orange Money is a mobile money transfer and payment service. Like Cofina, through House of Finance, Orange Money is also a financial inclusion channel that aims to be an African-level standard. Today, our partner Orange, with its Orange Money product, has gained a great deal of expansion in many African countries. This partnership between Cofina and Orange Money is the embodiment of the group’s vision that excels at being a digitally focused company that allows the majority, if not all, of our customers to face the economic crisis and access financial services without having to travel. . »
Nowadays mobile finance has become a sector involved in the socio-economic development of Guinea, particularly through Orange Money which is located across the country.