UBA, Orange partner on innovative payment system

Pan-African financial services group, United Bank for Africa Plc (UBA) and leading European and African telecom operator, Orange Group have announced a strategic partnership to deliver innovative financial services across Africa, with an agreement to jointly collaborate on the promotion of Orange Money.

Both UBA and Orange have a history of financial services innovation and their joint commitment to Africa makes them natural partners.

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.

UBA is a leader in electronic banking, for both individual and corporate customers, and with presence in 19 African countries and over 14million customers in Africa, has one of the largest pan-African banking networks.

A Memorandum of Understanding was signed today in Paris by Tony Elumelu, Chairman UBA Group, Emeke Iweriebor, CEO UBA Africa and Marc Rennard, Chairman and CEO, Orange Middle East and Africa, committing 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.

Both Groups recognised 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," Tony Elumelu commented.

"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," Marc Rennard stated.