Monday, April 22, 2024

Orange Money ÔÇô a hit in the local market says CEO

By Victor Baatweng

Orange Botswana Chief Executive Patrick Benon has described his company as the leader in the digital money transfer within the telecommunications industry in the country.

While The Telegragh has not been able to independently verify the figures with local regulatory bodies ÔÇô Benon has pegged the market share of the telecommunication giant’s mobile money transfer service ÔÇô known as Orange at 70 percent.

This would make Orange Money one of the most popular and a hit in the domestic market of digital money transfer.  The service competes with amongst others Mascom Wireless’s MascomMyZaka.

Benon, who was speaking at the Orange Botswana’s 20th anniversary held in the capital Gaborone on Friday, said that Orange Money service is not just a means of financial transaction but also a financial inclusion tool.

“In our 20 years of existence, our growth as a business drove several pinnacle developments in the local telecommunication sector and the community we operate. At Orange Botswana, we are driven by the number of lives we touch, the change we bring to the country and the footprint we leave behind as a brand. One of our biggest achievements is the Orange Money service”, Benon said.

Since August 2013, Orange money subscribers have enjoyed access to VISA payments when using their Orange Money accounts following the announcement of a group wide strategy agreement between Orange and VISA in 2012. The enhanced service allows orange money subscribers to access their funds 24 hours by withdrawing money at ATMs or online purchases wherever Visa is accepted.

Fast forward to June 2018, the local unit of the Orange group also announced another strategic deal with its Zimbabwean counterpart ÔÇô Econet through its Eco-Cash money service.

Through Orange money, the service allows Botswana dwellers, to use their Orange Money digital wallet to send money to neighbouring in real-time, directly into an EcoCash mobile wallet, which is powered by TransferTo’s global mobile payments network.

At the time, Orange Botswana said that the new service is a win situation to source income for Zimbabwe, powering significant social and economic developments across the country.

“As part of our broader financial inclusion and diversification strategy, Orange Money seeks to expand its services to offer a cheaper, secure and more convenient International Money Transfer payment infrastructure from Botswana to the whole Southern Africa region and beyond,” Orange Botswana Chief Executive Officer Patrick Benon said in June 2018.


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