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Orange Cameroon continues to fight for mobile money dominance

By , ITWeb
Cameroon , 17 Apr 2019

Orange Cameroon continues to fight for mobile money dominance

As Orange Cameroon celebrates 20 years of operation in the country, a new study shows that it has registered over 3 million active subscribers of its mobile money service Orange Money, launched in 2012.

According to a report The Economic Footprints of Orange Cameroon, released by consulting firm Goodwill Management, some 4.5 million Cameroonians make use of Orange Money services.

However Cameroon's National Institute of Statistics has revealed that the company is still playing catch-up with its main rival MTN Cameroon in the provision of mobile money services in the country.

Goodwill Management's report shows that Orange Cameroon operations have led to the creation of 62,674 jobs, including 601 direct, 11,125 indirect and 50,948 along the chain. This helped the company generate FCFA 560-billion in revenue.

In 2018, the mobile telephony service provider directly contributed 2.7% towards the country's public investment budget.

The company's impact has been measured and recorded in five areas: financial intermediation and commercial activities (33%); education, health and other services (13%); public administration (12%); posts and telecommunications (7%), as well as wholesale trade (5%).

In 2018, Orange Cameroon reported a turnover of FCFA 194.8-billion, an increase from FCFA 10.5-billion in 2017.

Cameroon's telecommunications market continues to grow, despite the impact of stricter regulations on subscriber identification.

The country's internet penetration rate is at 48.7%, according to Orange Cameroon.

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