Paris: Orange Money Group and banking technology provider JUMO have joined forces to enhance digital financial services across Africa, focusing on expanding microcredit solutions to unbanked populations.

According to African Press Organization, this collaboration is set to create a new microfinance marketplace, initially targeting Francophone Africa, by leveraging JUMO's expertise in data analytics, AI, and credit risk management.

This strategic alliance will facilitate the rollout of various credit products across multiple markets, enabling Orange Money Group customers to request credit securely via their mobile devices without the need for a bank account or collateral. JUMO has developed a range of short-term and installment loan products for consumers, merchants, and distributors who have limited access to financial services, using AI algorithms to assess credit risk accurately.

The partnership will also allow the introduction of real-time app-based and USSD lending to Orange Money Group's African customers, with plans to launch in Burkina Faso, Mali, and Botswana. This initiative aims to streamline user experience by combining financial inclusion with advanced technology, ensuring a swift and efficient credit service.

Aminata Kane, CEO of Orange Money Group, emphasized the importance of expanding financial services to support personal projects and everyday emergencies for their customers. Andrew Watkins-Ball, CEO and founder of JUMO, expressed pride in the collaboration, which connects Orange customers with market-leading banks and broadens opportunities for growth in new markets.