in Abidjan
In his small shop in Attoban in the Abidjan region, Yves Yao runs one of the thousands of Mobile Money sales points that cover every city in Côte d’Ivoire. Behind his desk he handles deposit and withdrawal operations for all the players in the industry: Orange, MTN, Moov, Wave. Advertisements on the walls tout free activities. “Wave was the first to offer its customers fees of 0% for deposits, 0% for withdrawals. Orange had to lower its prices to stay afloate”.
Today, 79% of the population of Côte d’Ivoire use mobile payments to send money, pay electricity and phone bills, or pay taxes. “We even offer loans and savings. a revolution for a country with a bank interest rate of 19.3%;“explains Mariam Diabi Toure, director of Orange Money.
Cutting prices, Wave, a Californian fintech company that arrived in Côte d’Ivoire and Senegal in 2020, has established itself in the market…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.