Orange Money has taken a bold and customer-focused step to make financial services more affordable for all Sierra Leoneans with the introduction of a 1% cash-out fee, a substantial reduction from previous rates. This new fee structure reflects the company’s commitment to financial inclusion and is a welcome development for customers facing economic pressures. The new fee is not just a cost reduction—it represents a gateway to more accessible, affordable, and convenient financial services, opening new doors for Sierra Leoneans to manage their money more effectively.
Here’s a look at the numerous benefits that the 1% cash-out fee brings to Orange Money users across Sierra Leone.
In a time when rising costs impact all facets of daily life, Orange Money’s reduced fee alleviates a significant financial burden on customers. The 1% cash-out fee allows users to access their funds at a fraction of the previous cost, freeing up more money for essential expenses. This change is especially impactful for low-income earners and rural customers, who now have more options to manage their finances without excessive fees eating into their earnings.
David Mansaray, CEO of Orange Money, emphasized this commitment: “By reducing our cash-out fee, we’re making financial services more affordable for Sierra Leoneans from all walks of life. This is our way of responding to the economic needs of our customers and ensuring they keep more of their hard-earned money.”
With just a 1% cash-out fee, Orange Money is not only reaching more people but also removing a barrier that has traditionally limited mobile money usage. This new fee structure opens doors for underserved populations, especially in rural areas where traditional banking services are scarce. By making withdrawals more affordable, Orange Money makes it easier for individuals, especially in remote areas, to fully participate in the economy through accessible financial services.
Orange Money’s move aligns with Sierra Leone’s broader goals of financial inclusion, ensuring that all citizens, regardless of their income level, have access to quality financial services. By reducing the cash-out fee, Orange Money encourages more people to transition from cash transactions to mobile money, which is safer, more secure, and provides a digital footprint for financial growth.
The Head of Strategy, Marketing, and Partnership, Joseph Saffa Tengbeh, highlighted that this change was influenced by customer feedback and was part of Orange Money’s commitment to addressing customer needs. “We listened to our customers, who asked for more affordable financial services, and this 1% fee is our answer to those requests,” he noted.
For small business owners, farmers, and others who regularly use mobile money for transactions, the new fee makes daily operations more manageable and predictable. Lower fees mean that these users can withdraw and reinvest funds more freely, facilitating a smoother cash flow and enhancing their ability to save and plan for future expenses.
In addition, the 1% fee structure provides customers with clear and consistent pricing, allowing them to better manage their finances. Lower withdrawal costs make Orange Money a more viable tool for daily financial management, as users can now budget and allocate their resources with greater ease.
With the reduced cash-out fee, Orange Money encourages greater adoption of mobile financial services, promoting a shift toward a digital economy. This shift supports Sierra Leone’s broader economic goals, as more people gain access to secure, reliable digital platforms for transactions. By facilitating a digital transformation, Orange Money contributes to the growth of a more resilient and diversified economy that can benefit everyone in the country.
Haffie Haffner, Chief Commerce Officer of Orange Money, spoke to this goal, stating, “This is more than just a fee reduction; it’s about giving all Sierra Leoneans the opportunity to take part in a modern financial ecosystem. Our goal is to make mobile financial services as accessible and impactful as possible.”
Orange Money’s new 1% fee also serves as an incentive for new customers who may have been hesitant to use mobile money services in the past due to high fees. By reducing costs, Orange Money makes it easier for first-time users to see the benefits of digital finance. This change is expected to not only increase Orange Money’s customer base but also drive greater financial literacy as new users learn to navigate mobile financial services effectively.
Orange Money’s 1% cash-out fee is more than a financial policy shift—it’s a meaningful effort to bridge economic divides, enhance accessibility, and provide a platform for financial empowerment. For customers across Sierra Leone, this new fee structure represents increased affordability, greater financial flexibility, and a brighter, more financially inclusive future.
As Orange Money continues to prioritize the needs of its customers, this move reinforces its position as a forward-thinking leader in the mobile financial services industry. For many Sierra Leoneans, the new cash-out fee marks a pivotal step in their financial journey, opening up a world of possibilities and a greater sense of financial independence.
