The 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.
Under the agreement the two institutions would collaborate on the promotion of Orange Money.
A statement issued in Accra said a Memorandum of Understanding was signed in Paris by Tony Elumelu, Chairman, UBA Group, Emeke Iweriebor, Chief Executive UBA Africa and Marc Rennard, Chairman and CEO, Orange Middle East and Africa.
The statement said 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.
The statement said 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.
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,” the statement said.
The statement said: “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”.