• Orange Mobile Finance Sierra Leone (OMFSL) introduced a digital microcredit service for Orange Money users, providing instant loans via mobile shortcodes.
  
  
• The service targets small merchants and agents, offering quick access to working capital without traditional loan complexities, as part of Orange's strategy to expand financial inclusion in West Africa.
  

Orange Mobile Finance Sierra Leone (OMFSL) introduced "Kwik Moni Loan" on Thursday, May 8, a digital microcredit service targeting agents and merchants who utilize Orange Money. The new financial product offers users immediate loan access through their Orange Money mobile wallets by dialing the shortcodes #145# for agents and #146# for merchants.

David Mansaray, CEO of OMFSL, stated that the 24/7 service provides swift and convenient access to working capital for a range of professionals, including shopkeepers, taxi drivers, and store owners. The initiative seeks to facilitate business growth without the complexities of traditional loan processes.

The launch of "Kwik Moni Loan" aligns with Orange's wider strategy to enhance financial inclusion in West Africa. In 2020, Orange previously launched "Orange Money Lajor" in Sierra Leone, a microcredit service for Orange Money customers in collaboration with Empire Solution. Additionally, Orange Bank Africa, the group's digital banking arm, was established in Côte d'Ivoire in 2020 to provide savings and credit services accessible via mobile, with plans for regional expansion.

Through this latest initiative, Orange Mobile Finance Sierra Leone aims to bolster financial inclusion by enabling quick credit access for small merchants and local agents. By offering solutions tailored to their specific needs, the service intends to support entrepreneurship, improve the financial stability of unbanked populations, and stimulate commercial activity nationwide.

By Samira Njoya,

Editing by Sèna D. B. de Sodji