(Business in Cameroon) - Orange Cameroon recently announced to its subscribers, via an SMS entitled “Open Wallet,” that they can now send or receive money from the CEMAC region via their mobile money wallet.
The operator explains that this new service was facilitated by a partnership with the interbank banking group of Central Africa (GIMAC).
"This Orange Money service will initially be offered for transfers to and from Gabon, through Airtel Gabon, and Equatorial Guinea, through the banking institution CCEI Bank Equatorial Guinea [a subsidiary of the Cameroonian Afriland First Bank]. The other countries will be included gradually," explains an authorized source at Orange Cameroon. The same source reveals the costs for transfer between countries will be “a little higher” compared with those within the same territory.
On April 15, BEAC, the Central Bank of the six CEMAC countries officially announced the effectiveness of mobile money interoperability. This means that users can easily transfer money to the wallet of another user even if they are not clients of the same mobile operator.