With the recent receipt of Electronic Money Establishment licenses (EME) in four countries - Senegal, Mali, Côte d’Ivoire and Guinea, Orange has further strengthened its position as a major player in the mobile financial services segment in Africa.
The EMEs have responsibility for the issuance, management and distribution of electronic money for Orange, as well as managing compliance.
To support the latest development, Orange has created a new organization, CECOM, which provides mutualized risk and compliance management for its mobile money activities in these countries. The creation of the CECOM in Côte d’Ivoire to deploy a mutualized policy for managing risk and conformity issues is an important milestone which demonstrates Orange's maturity in this segment, said the Operator.
Orange Money’s global operations now represent major stakes in a growing number of countries. In Côte d’Ivoire, Orange Money amounts to as much as 10% of the operator’s revenues.