Leading telecommunications network in Sierra Leone, Orange has helped in increasing access to finance for its customers through its Orange Money Lajor service.
The service allows customers to borrow cash through Orange Money and have a grace period of 30 days to repay the loan. It’s the first of its kind in Sierra Leone.
The Orange Money Department said they have now increased how much customers can borrow by more than 100%.
“Customers can now borrow up to Le500,000. At first, they were only allowed to borrow as much as Le200,000. This means we have now given customers out there more access to more cash through Orange Money,” an official in the department said.
The official said customers who want to be eligible must have been frequently using their Orange Money wallet to do transactions for at least three months.
“There are customers who are indeed on Orange Money but when they want to send money, they give it to agents to send the money instead of sending it to their wallet and do the transaction themselves. By frequently using your wallet to do transactions, you increase your chance of lending anytime u decide to do so from Lajor.”
Customers who want to use the service to borrow money can press #144*7# and follow the through all the instructions.
Orange Money itself is the first mobile money service in the country and now the biggest and most reliable of all others. With the Orange Money Lajor access to cash has increased and the chance of customers going broke has been lessened.
Sierra Leone is one the verge of transitioning its finance sector to the digital world, Orange Money has already taken the lead and its far ahead of its competitors and sector players.