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Cameroon: Orange authorized to create a payment institution

11/07/2022
Categories: General Information
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The cell phone operator, Orange Cameroon is now free to launch Mobile Money SA which will handle electronic financial transactions.

"Orange Money Cameroon SA is now authorized to provide, autonomously, payment services such as deposits, transfers and withdrawals of money, purchases of credits and TV packages, payments of bills, salaries, taxes and fees, collection and remittance of funds.This is what the Central African Banking Commission (COBAC) and the National Monetary Authority have decided. This new subsidiary, by becoming a payment institution (PE), will be entirely dedicated to electronic financial operations.

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