Orange Money Introduces New 1% Cash-Out Fee to Ease Economic Strain for Mobile Money Users
Orange Money has launched a new 1% cash-out fee, greatly reducing the cost of financial transactions for users in Sierra Leone. This adjustment is aimed at making financial services more affordable, reflecting the company’s commitment to expanding financial inclusion across the nation. By cutting transaction fees, Orange Money is empowering Sierra Leoneans with easier access to financial services, offering a practical response to current economic challenges.
Here are some of the ways this new cash-out fee will benefit Orange Money users:
As living costs rise, Orange Money’s 1% fee offers customers a more affordable way to access their money. The reduction in fees allows users especially those with limited incomes to save more of their earnings, directing these savings toward essential needs. This fee adjustment is particularly beneficial for lower-income and rural populations who previously faced high costs to manage their finances.
David Mansaray, CEO of Orange Money, noted, “By reducing our cash-out fee, we’re making financial services more affordable for all Sierra Leoneans. This is a direct response to the economic challenges faced by our customers and a step to ensure they retain more of their income.”
With the 1% cash-out fee, Orange Money is enhancing access to financial services by lowering the barrier to entry for mobile money. This change is especially impactful in underserved, rural regions where banking options are often limited. By reducing cash-out costs, Orange Money is extending its reach, helping more people participate in the formal economy and access financial services in a convenient and cost-effective way.
The 1% fee aligns with national goals for expanding financial inclusion, promoting a shift from cash-based transactions to digital finance. Lower transaction costs encourage users to adopt mobile money as a secure, traceable means of managing their finances.
Joseph Saffa Tengbeh, Head of Strategy, Marketing, and Partnership at Orange Money, explained, “We listened to our customers, and this 1% fee is our response to their call for affordable financial solutions.”
For small business owners, farmers, and regular users, the new fee reduces the cost of frequent transactions, making daily financial management easier. The simplified, lower-cost structure enables users to plan their spending, save, and reinvest without worrying about high withdrawal fees. This predictability makes Orange Money a reliable tool for budgeting, giving customers greater financial control.
By lowering the cash-out fee, Orange Money supports Sierra Leone’s digital transformation efforts, driving the growth of a more robust, technology-based economy. Increased mobile money adoption facilitates secure digital transactions, laying the foundation for a diverse, resilient economy.
Chief Commerce Officer Haffie Haffner emphasized, “This isn’t just about reducing fees; it’s about empowering Sierra Leoneans to engage fully in a modern financial ecosystem.”
The new 1% fee is also an incentive for potential users who may have been hesitant to adopt mobile money. The reduced fees make it easier for newcomers to experience the benefits of digital financial services. This policy change is likely to broaden Orange Money’s customer base and promote financial literacy, as more people gain hands-on experience with mobile money.
Orange Money’s 1% cash-out fee represents a strategic shift aimed at fostering economic empowerment and expanding financial access. For Sierra Leoneans, this reduction marks a positive change toward more affordable, flexible financial solutions. The initiative underscores Orange Money’s commitment to its customers’ needs, setting a new benchmark for financial inclusion and independence in Sierra Leone.
