Lomé, 15 December 2020 – Pan-African groups Oragroup—who operate in 12 countries in West and Central Africa—and Axian, who are present in 6 countries across Indian Ocean and mainland Africa—are joining forces to accelerate financial inclusion in Africa. The two entities will leverage the digital revolution to offer innovative financial services (e-money, mobile financial services, online nano-savings, etc.) to the continent’s underprivileged populations.

Following this merger, Oragroup’s branches and subsidiaries will form long-term partnerships with various mobile-network operators to develop high-quality digital financial services for specific user groups. A pilot project to this effect is already underway in Togo, and both Orabank Togo and the telecom operator Togocom will soon launch their MBanking platform. Using said platform, users will be able to carry out bank-to-wallet and wallet-to-bank operations by linking their bank accounts to accounts that they create with their operators. Account-management services such as verifying balances or transaction history and eventually nano-savings/credit products will also be offered to users.

Oragroup has established itself over the years as a major supporter of African SMEs and SMIs. Today, the group is going further in in service of this commitment by now focusing on segments of the population who have been marginalized as a result of progress. This announcement also illustrates Axian’s commitment to sustainable, inclusive economic growth in Africa. Today, the company is a key partner in the socioeconomic development of the many countries in which it operates.

Oragroup and Axian intend to develop these services in all the countries where the banking group is already established, but will congruously seek opportunities to bring these products and services to markets where Oragroup does not yet have a foothold.

Ferdinand Ngon Kemoum, Chief Executive Officer of Oragroup, said: “Oragroup is delighted to partner with Axian to support the digital revolution in Africa. After the KEAZ application and its multi-channel platform, which gives customers the possibility to execute their transactions wherever they are, Oragroup is once again committed to financial inclusion. The group is proud to offer mobile banking services that will enable a large number of Africans to become citizens of the digital world.”

Matthieu Macé, CEO of Open Innovation & Fintech division in Axian, adds: “It is with determination that Axian joins forces with Oragroup to support and strengthen financial inclusion in Africa. Our group has always set itself the goal of working towards more inclusive and sustainable human and economic development in the Indian Ocean and Africa. The digital transformation is a major lever for development and we hope that the financial services that will emerge from this partnership will encourage the empowerment of Africa’s most vulnerable groups of the population.”

ABOUT ORAGROUP

Oragroup is present in 12 countries in West and Central Africa (Benin, Burkina Faso, Ivory Coast, Chad, Gabon, Guinea Conakry, Guinea Bissau, Mali, Mauritania, Niger, Senegal, and Togo) and in four monetary zones (WAEMU, CEMAC, Guinea Conakry and Mauritania). With 157 banking branches and 2,077 employees, Oragroup offers more than 500,000 customers (large national and international companies, SMEs and individuals) a wide range of banking products and services based on the principles of being local and responsive.

By striving for financial inclusion through the deployment of innovative solutions, Oragroup focuses on previously neglected segments of the population. This commitment is reflected in its CSR policy, which is an integral part of its strategy and a priority for its management bodies, focusing on energy transition, environmental and social risk management, and the well-being of the public and its employees.

For more information, please visit www.orabank.net and our integrated reporting on https://reporting.orabank.net/ but also on LinkedIn, @GroupOrabank on Twitter, Facebook, Instagram, and YouTube. Also explore KEAZ, Orabank Group’s new digital platform.

ABOUT AXIAN GROUP

Axian is a pan-African group specialised in 5 high growth potential sectors. The Axian Group is present in 6 countries of the Indian Ocean and the African where it acts as a partner in the socio-economic transformation of the countries in which it operates. Together with 5,000 driven and passionate employees, we consistently ensure that our activities have a lasting and positive impact on the day-to-day lives of millions of Africans across all of our business sectors.

We are developing a culture of exemplary management and environmental stewardship, and our Group is part of the United Nations Global Compact initiative and committed to integrating its 10 principles into the heart of our present and future strategies and activities.

Find out more about Axian: www.axian-group.com Facebook, Twitter, linkedin @Axiangroup

Read the press release