Telkom Kenya to discontinue Orange Money on 4 July

15 Jun 2017

Telkom Kenya (previously Orange Kenya), which was acquired by private equity firm Helios Investment Partners in mid-2016, has revealed plans to discontinue its Orange Money service on 4 July. According to microcapital.org, the telecoms company does not intend to withdraw from the mobile money transfer segment, as it intends to re-launch a different mobile payment service with an emphasis on interoperability that allows users to send money and receive payments to/from mobile money platforms operated by competitors Safaricom (M-PESA) and Airtel (Airtel Money).

TeleGeography notes that a total of KES80 million (USD768,000) were transferred via the Orange Money service – which had 800 agents across the country – in the three months to end-2016. In comparison, Safaricom revealed that KES55 billion were transferred via its mobile financial platform in the twelve months to 31 March 2017; the M-PESA service had 19 million active users at that date and 100,744 agents nationwide.