African financial giant, United Bank for Africa Plc (UBA) has reached an agreement with top telecoms operator, Orange Group, to form a strategic partnership on innovative financial services across Africa.
The deal involves the promotion of Orange Money, a payment solution which enables customers to transfer funds from their mobile phones to other account holders domestically and abroad. Bill payments and other customer-focused solutions are also available on the platform.
Both institutions have a history of financial services innovation and their commitment to the African market make them natural partners.
According to the Chairman, UBA Group, Tony Elumelu, the partnership commits both groups 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”.
UBA, a leader in electronic banking, is present in 19 African countries and boasts of over 14 million customers.
Orange is one of the leaders in mobile and internet services with over 260 million customers worldwide.