Financial inclusion remains a major challenge in Africa, with only 55% of Sub-Saharan adults accessing formal banking. This is below the global average of 76%. But, through strategic partnerships, financial service providers have been slowly bridging this gap, leveraging technology to deliver affordable and accessible solutions at scale. Saïda Merini, Head of banking partnerships at Orange Money Group, highlights how partnerships between mobile operators, banks and fintechs like JUMO are crucial to reaching underserved communities.

‘By working with fintech leaders like JUMO, we are breaking barriers and building a more inclusive financial future for Africa.’

The power of partnerships in financial inclusion

Africa’s mobile revolution has made digital financial services a cornerstone of financial inclusion. The continent leads in mobile money adoption, holding 48% of the world’s 1.6 billion registered accounts and driving 70% of the 85 billion global transactions in 2023.

Orange has been a pioneer in this space, investing in Africa for over 20 years and expanding Orange Money to 17 countries, serving over 100 million customers. This progress has been driven by partnerships with like-minded fintech companies, such as JUMO, and individuals who share their passion for financial inclusion. Together, we can accelerate access to financial services by:

• Bridging the financial gap through digital financial services tailored for underserved communities.
• Supporting economic growth by enabling MSMEs (micro, small, and medium enterprises) and entrepreneurs to access credit and savings solutions.
• Driving digital transformation and fostering financial literacy to empower individuals.

Leveraging mobile money for economic growth

Since launching in Côte d’Ivoire in 2008, Orange Money has changed how people transact, save, and borrow. With 40 million active monthly users, Orange Money has become a powerful financial tool, enabling:

• Interoperability between mobile wallets, banks, and fintech platforms for seamless transactions.
• Scalable digital platforms that expand access to microloans, insurance, and merchant payments.
• App but also USSD-based access, ensuring that those without smartphones or internet connectivity can still participate in the digital economy.

How fintech partnerships strengthen the collective mission

While mobile wallets have democratised financial services, access to credit has remained a challenge for many. This is where fintech partnerships play a transformative role. By collaborating with JUMO, Orange Money is able to offer AI-driven microfinance solutions to customers, ensuring that even unbanked individuals can access credit without traditional banking histories. This partnership enhances financial inclusion by:

• Expanding financial access through data-driven credit scoring.
• Offering flexible microloans tailored to users’ financial behaviours.
• Improving risk assessment and ensuring responsible lending practices.

A collaborative approach to financial inclusion

Expanding financial inclusion requires a holistic approach involving multiple stakeholders. Beyond fintech collaborations, Orange works closely with:

• Regulators, to ensure that financial services are secure, transparent, and inclusive.
• Banks and financial institutions, provide liquidity, compliance support, and expanded financial products.
• Merchants and businesses, encourage digital payment adoption and economic participation.

The future of financial inclusion in Africa

The potential of mobile money and fintech-driven financial services is immense. With Africa’s banking sector generating several hundred billion dollars in revenue, mobile money remains a major driver of financial growth. To fully capitalise on this opportunity, priorities include:

• Strengthening partnerships between mobile operators, fintechs, and traditional banks.
• Developing financial products tailored to local needs, especially for informal workers, women, and rural communities.
• Enhancing financial literacy programs to increase adoption and usage of digital financial services.

In conclusion, through strategic collaborations, JUMO’s AI-driven technology, and growing inclusive digital platforms together, Orange is able to expand financial inclusion in partnership across Africa. By working with fintech partners like JUMO, we are not only providing financial services but also empowering individuals, supporting businesses, and driving sustainable economic growth. Together, we can create a more inclusive financial ecosystem that leaves no one behind.

For more insights on JUMO partners and collaborations across Africa, click here.