The Orange Group and MTN Group have partnered to launch a Pan-African mobile money platform called Mowali. Orange Group a mobile money provider and MTN Group a mobile operator has joint forces to launch Mowali a mobile wallet to enable interoperable payments across the African continent.
What is Mowali and how does it work?
Mowali is a digital payment platform which connects financial service providers with their customers in an inclusive network. With Mowali, users can send money between mobile money accounts issued by any mobile money provider. It is open to any mobile money provider in Africa. Banks, money transfer operators and any other financial service providers can use this platform. Mowali’s goal is to help increase the usage of mobile money by customers and merchants in Africa. With the digital payment platform, money circulates freely between mobile money accounts from any operator in the African continent.
The partnership between Orange Group and MTN Group positions Mowali to be a great platform. It will benefit from the reach of MTN’s MTN mobile and Orange group’s Orange Money. The groups will already provide the digital payment platform with over 100 million possible mobile money account. The digital payment platform will be in operations is 22 of sub-Saharan Africa’s 46 markets.
The Orange Group and MTN Speak about Mowali
In a statement by the Chairman and CEO of Orange, Stéphane Richard said that Mowali is an important step forward that will allow mobile money to become a universal means of payment in the continent of Africa. He expressed how important increasing Africa’s financial inclusion through digital technology is to the economic growth of the continent. According to his statement, their partnership aims to accelerate the pace of this financial inclusion. He spoke about his hope that Mowali will change the lives of its users by providing them with simpler, safer and more advantageous services.
In another statement by Rob Shuter, the Group president and CEO of MTN said that Mowali will help the group achieve its goal accelerate the penetration of mobile financial service. He said that more partnerships like this will help the Group accelerate the pace of development and overcome the challenges that the African society faces. In the statement, he revealed that the partnership with Orange will help them better support the United Nations Sustainable Development Goals that are related to the elimination of extreme poverty.
About the Orange Group and MTN Group
- Orange Group is an operator of mobile, telecommunication and internet services in Europe and Africa.
- MTN Group is a South Africa-based multinational mobile telecommunications company, operating in many African, European and Asian countries.