Signature of a partnership agreement between “Covina” and “Orange Mobile Finance” Guinea

After the banking establishments Ecobank, UBA, Orabank and Vista Bank, Orange Mobile Finance of Guinea (OFMG) turned to microfinance agencies. On November 4, 2021, the Chief Executive Officer of OFMG and the Société Financière Africaine (COFINA) signed a partnership agreement in Kipé, in the municipality of Ratoma (Conakry). This partnership aims to allow Cofina’s customers to carry out financial transactions without having to travel.

This partnership will allow Orange Money customers and Cofina customers to carry out transactions between their bank and their Orange Money account. This has a huge advantage as it will prevent them from having to travel to the bank to make withdrawals or deposits. They will do it wherever they are from their cell phone Abdelkarim Bangura, Managing Director of Orange Finances Mobiles in Guinea, explains. From their Orange Money accounts, he says, Cofina customers can withdraw or deposit money from their existing Cofina accounts and vice versa. They can also Make Orange Money transfers to their partners and families He says he is happy to have such a relationship with Covina: Today we are delighted with this partnership which enriches the Orange Money territories. So it’s a service that will work. “

Sekou Omar Diakite, CEO of Cofina, first explained the history of his company: “ Covina came to offer Guinea and Guinea financial inclusion. Cofina, through its offer of products and services adapted to the needs of Guinean Small and Medium Enterprises (SMEs) as well as the population, wishes to support the economic development of Guinea.. “

For him, this partnership will embody one of Covina’s ambitions: “ Orange Money is a money transfer and mobile payment service. Like Cofina, through House of Finance, Orange Money is also a financial inclusion channel that aims to be a standard at the African level. Today, our partner Orange, with its Orange Money product, has developed widely in many African countries. This partnership between Cofina and Orange Money is the embodiment of the group’s vision which excels in being a digitally-oriented company that allows the majority, if not all, of our customers to face the economic crisis and gain access to to financial services without having to travel.. “

Today, mobile finance has become a sector involved in the socio-economic development of Guinea, in particular through Orange Money which is established throughout the territory.