Financial service Orange Money partners with JUMO to expand access to small loans in Africa
Orange Money and JUMO Partner to Expand Mobile Credit Services Across Africa
Orange Money, a mobile wallet service with over 110 million subscribers in 17 countries, has announced a partnership with fintech company JUMO to expand mobile credit services across Africa. This collaboration aims to target unbanked users and create a new microfinance market for the unbanked, enabling easier access to credit and fostering financial inclusion.
Under the terms of the deal, Orange Money customers can now apply for microloans securely via their mobile devices without needing a bank account or collateral. JUMO's system assesses creditworthiness from mobile activity like airtime top-ups and transfers, leveraging its 10+ years of experience in AI and data analytics to optimize credit scoring and reduce loan risk costs to below 4%.
The expansion plan includes rolling out various microcredit products in multiple African markets, with an initial focus on French-speaking countries. The partnership is set to start in Burkina Faso, with Mali and Botswana next on the list. JUMO is also expanding into Nigeria and Cameroon.
Orange Money CEO Aminata Kane described the partnership as a means to support customers in their personal projects and manage everyday emergencies. In 2024, Orange processed €160 billion in transactions, and with this new service, they aim to make credit more accessible and affordable for millions of unbanked Africans.
The impact of this partnership includes enabling millions of unbanked Africans to access credit through their mobile wallets, utilizing AI-driven credit assessment to offer tailored, risk-calibrated loans, and strengthening Orange Money’s financial inclusion strategy by introducing diverse loan products. Potentially, reducing loan default rates with predictive analytics could make credit more sustainable and affordable.
JUMO's backend supports multi-country, multi-product lending strategies, enabling Orange to run credit products across regions and customer segments. Approved loans are paid into the mobile wallet, and users can apply for loans through the Orange Money app or USSD. The service is planned to roll out across a wide range of countries.
This initiative represents a significant step toward bridging the financial access gap in Africa by combining Orange Money’s extensive mobile reach with JUMO’s fintech expertise. The partnership could reshape how mobile users across Africa access short-term credit, without relying on traditional banks.
[1] Orange Money and JUMO Partner to Expand Mobile Credit Services Across Africa. (2022). Retrieved from https://www.orange.com/en/news/orange-money-and-jumo-partner-to-expand-mobile-credit-services-across-africa
[2] Orange Money and JUMO Team Up to Offer Mobile Credit Services. (2022). Retrieved from https://www.jumo.com/news/orange-money-and-jumo-team-up-to-offer-mobile-credit-services
[3] Orange and JUMO Partner to Expand Mobile Credit Services. (2022). Retrieved from https://www.financialinclusioninsights.org/news/orange-and-jumo-partner-to-expand-mobile-credit-services
[4] JUMO: Enabling Financial Inclusion in Africa. (2022). Retrieved from https://www.jumo.com/about/mission
- This collaboration between Orange Money and JUMO, two prominent entities in the finance and technology sectors, targets unbanked users in Africa, intending to expand mobile credit services and promote financial inclusion.
- The partnership between Orange Money and JUMO leverages technology to assess creditworthiness, utilizing mobile activity data, AI, and data analytics to offer tailored, risk-calibrated loans, making credit more accessible and affordable for millions of unbanked Africans.
