Orange Money Liberia is said to be revolutionizing financial access in the country and with its over 1.5 million users in the country, Orange Money has made it easier for people to send and receive money, pay bills, and access other financial services.
The service has been praised for its achievements in promoting financial inclusion and affordability, particularly in rural areas where traditional banking services are limited and providing a convenient and secure way to manage money.
Orange Money, the mobile money service provided by telecommunications company Orange, is helping to empower individuals and businesses to participate more fully in the economy.
Outlining its achievements, Orange Money Liberia said on June 1, it made a bold move to disrupt the market by revamping our tariffs through the introduction of several free services, including sending money to Orange Money users, paying bills, paying merchants, transferring money to banks, subscribing to Pay TV, and paying for LEC subscriptions.
The company said it reduced the fee for withdrawing money to just 1 percent and said, “For example, if a customer withdraws L$1,000, they will only be charged L$10 and that this initiative is designed to make financial services much more affordable and accessible, promoting greater digital and financial inclusion.
The Company noted that on what motivated Orange Money Liberia to introduce these new changes in tariffs and services is the motivation behind the changes is their dedication to improving financial inclusion and affordability for all Liberians.
The release continued that they recognized the need to make financial services more accessible and cost-effective, especially during challenging economic times and by reducing costs and offering free services, they aim to empower our customers and support their financial well-being.
According the release, the move aligns with President Joseph N. Boakai’s digital plan presented on May 1, where financial inclusion is key for the country, and noted, “We were also inspired by the success seen in top countries such as Kenya, where mobile money is massively adopted, demonstrating its sustainability and positive impact on financial inclusion.”
The release stressing on how does Orange Money Liberia’s new strategy differ from previous promotional offers, indicated, “Our new strategy differs from previous promotional offers as it is not a temporary measure but a long-term, sustainable revamp of our services.”
The company in its statement further narrated, “We are committed to making these changes permanent to ensure that our customers consistently benefit from more affordable and accessible financial services.”
“We expect these changes to significantly impact our customers’ financial behavior by encouraging more frequent use of mobile financial services.” the company said; noting that it is against the backdrop of the impact they expect these changes to have on the financial behavior of customers.
According to them, with lower costs and free services, customers can save more money, make transactions more confidently, and better manage their finances, leading to improved financial health.
Responding to inquiry to elaborate on how the 1 percent withdrawal fee aligns with their goal of financial inclusion, the company said, “The 1% withdrawal fee aligns with our goal of financial inclusion by making it more affordable for customers to access their cash.”
“This reduced fee lowers the cost barrier, encouraging more people to use our services and participate in the digital economy. It ensures that even those with limited financial resources can benefit from our offerings.
This approach is similar to when SIM cards were reduced from $65, which made them more affordable and popular, demonstrating the effectiveness of lowering cost barriers,” the release also outlined.
Meanwhile, other areas touched are, “How is Orange Money Liberia addressing the digital divide in rural and underserved areas: to address the digital divide in rural and underserved areas, we are expanding our agent network and investing in infrastructure to improve connectivity.
We are also conducting outreach programs to educate people about our services and how they can benefit from them. Our goal is to ensure that everyone, regardless of location, has access to affordable financial services.”
It continue, “What are some success stories or positive outcomes you have seen since implementing these changes: since implementing these changes, we have seen numerous success stories. For instance, small business owners have reported increased savings and more efficient transactions.
Families are able to manage their finances better, and there is a growing sense of financial empowerment among our customers. These positive outcomes reinforce our commitment to financial inclusion.”
Orange Money Liberia plays a crucial role in the broader economic development of the country by providing essential financial services that enable economic participation and by making financial services more accessible and affordable adding, “We support entrepreneurship, job creation, and overall economic growth. Our efforts contribute to a more inclusive and robust economy.”
It added, “How can customers provide feedback or suggestions to help Orange Money Liberia improve its services: customers can provide feedback or suggestions through our customer service channels, including our social media platforms and customer care centers because we value their input and use it to continuously improve our services.”
What is the impact on agents with your new tariffs: we understand the critical role our agents play in the success of our services. With the new tariffs, we have ensured that the amount of commission for agents remains unchanged. We are committed to continuing our partnership with them, creating job opportunities, and fostering a collaborative environment that benefits everyone involved,” the release added.
