Orange, one of the leading telecom operators in Cote d’Ivoire and Yabx Netherlands, a fintech venture offering credit products across multiple countries in Africa, today announced their collaboration with Cofina Cote d’Ivoire, a leading financial institution dedicated to meso-financing, to facilitate smartphone financing for Orange customers in the West African country.
The announcement was made during the MWC show in Barcelona, Spain.
According to Yabx, this partnership will make a significant difference in promoting digital lifestyle and expanding financial inclusion across Côte d’Ivoire.
Yabx’s device impairment technology enables Cofina to launch EMI plans, where Yabx manages the complete customer journey through digital channels, which includes selection, acquisition, disbursals, collections, etc.
“To experience high quality of digital services and user experience, it is imperative for customers to buy a 4G smartphone. High one-time expenditure becomes a key challenge to increase user adoption. We are confident that through this partnership with Yabx, the high entry-cost barrier will be eliminated, which will help in driving smartphone adoption,” said Raoul Yobouet, CMO of Orange Côte d’Ivoire, commenting on the new partnership.
“The main economic and social objectives of our partnership [with Orange and Cofina) are to help the population of Côte d’Ivoire gain instant access to smartphones in an affordable and convenient manner, enhancing digital adoption through financial inclusion,” said Puneet Chopra, Chief Growth Officer, Yabx.
Elhadj Kane, Legal Director & Company Secretary at Cofina added, “This partnership helps us further advance on our vision to be the pan-African model for inclusive finance and use of technology to do responsible lending.”
Yabx is currently showcasing its fintech solutions at MWC Barcelona emphasizing its collaborative lending model where they partner with mobile network providers and financial institutes to create innovative and disruptive propositions bringing substantial new value pools for all stakeholders.