Building on its recent foray into Senegal, British financial technology company TerraPay has secured a strategic partnership in Mali. 

Orange Finances Money Mali and British fintech firm TerraPay have joined forces to enable seamless cross-border mobile money transfers for Malian users, connecting them to a vast network across Africa and the world.

The partnership, announced Monday, empowers Orange Money Mali customers to directly receive funds from multiple countries through TerraPay's global platform. "This strategic collaboration simplifies transactions, making them quick and secure, enhances the customer experience for Orange Money users, and strengthens financial inclusion in Mali," said Djeneba Tandjigora, Chief of Transfer Services and Core Business at Orange Finances Money Mali.

Mobile money has revolutionized African finance, with the continent leading the globe in adoption. According to the GSMA's "State of the Industry Report on Mobile Money 2023," Africa boasts 781 million active accounts, representing 48.81% of the world's total. This translates to a 17% surge compared to 2021.

"With a direct connection to Orange Finances Money Mali, TerraPay can ensure a seamless cross-border payment experience, reducing operational issues and providing prompt assistance to our partner’s clients," said Amel Kane, Regional Sales Manager Francophone West Africa at TerraPay. 

TerraPay's robust network spans over 120 countries for receiving funds, and over 210 for sending, and connects to over 7.5 billion bank accounts and 2.1 billion mobile wallets worldwide. 

Adoni Conrad Quenum