Orange Money and Bank of Africa customers will soon be able to transfer funds directly from their Orange Money account to their Bank of Africa account and vice versa with a mobile phone, according to a press release. 

The partnership enables Orange customers to conduct real-time banking operations, to transfer funds, pay for goods and services (water, electricity, education, television bills, etc.) and purchase airtime credit without going to the bank or to the shop, according to the announcement. 

A large network of licensed Orange Money distributors will supplement the network of 450 Bank of Africa branches, offering a maximum number of cash withdrawal points to the customers of both companies.

"The partnership between Orange and Bank of Africa illustrates Orange's ambition to offer its customers high-quality services that are both easily accessible and easy to use," said Marc Rennard, Orange senior executive vice president for Africa, the Middle East and Asia "Our respective businesses complement each other, making it easier for customers to manage their money using their mobile, wherever they are in the country and at any time of the day."

This new service, which is designed for both individuals and professionals, has been available in Madagascar since August and will be extended to Côte d'Ivoire, Mali, Senegal, Niger and the Democratic Republic of the Congo in the coming months. Bank of Africa Madagascar is the first bank in sub-Saharan Africa to launch this service with Orange.

This is also the first step in a range of innovative financial services that will be developed by the two companies, according to the press release.

Orange Money currently has more than 11 million customers in 14 countries in Africa and the Middle East. Subscription to Orange Money is free of charge.

Bank of Africa currently has millions of customers in 16 countries in Sub-Saharan Africa.