France-based telecommunications company Orange recently partnered with NSIA Group, a firm in Côte d’Ivoire that specializes in bancassurance, to establish Orange Bank Africa in the city of Abidjan. Orange Bank Africa offers both microcredit and savings services through mobile phones via the Orange Money service. The minimum loan size is XOF 5,000 (USD 9), and the minimum deposit transaction is XOF 1,000 (USD 2). Savings balances up to XOF 10 million (USD 18,000) earn an annualized interest of
