Orange Money, the leading mobile money company in Sierra Leone has announced a significant reduction in its cash-out tariff to a flat rate of 1%, effective from Friday 1st November, 2024.

This change comes as part of Orange Money's ongoing commitment to offer more affordable and accessible mobile financial services for its users.

By lowering the cash-out tariff, Orange Money aims to make everyday transactions easier and less costly for individuals and businesses across the region.

Speaking at the unveiling of the 1% cash out tariff held on Friday 1st November, 2024 at Orange Money Headquarter, Hill Station in Freetown, Orange Money Chief Executive Officer, David Mansaray said he was excited about the launch of the 1% cash out tariff in every transaction customer does.

“This strategic move by the Company is a direct response to the hue and cry of the customers especially those in remote places about the economic hardship affecting the masses in the country” he averred.

He said that the reduction in tariff was to empathize with the customers and help to make lives easy for everyone in Sierra Leone.

The CEO noted that Orange Money tariff for cash out in every transaction is the cheapest presently in the country.

According to him, Orange Money is a family that caters for everyone pointing out that the worries of people to cash out because of high tariff is over now.

Orange Sierra Leone Chief Commercial Officer, Haffie Hafner Esq. disclosed that management of Orange Company strategizes everyday to improve the wellbeing of its customers and the people of Sierra Leone.

She said that the reduction of cash out tariff resonate as way to expand financial inclusion across the country.

According to her, Orange Money Company aims to lift Sierra Leone to a cashless society with digital mobile money utilization in every business transaction.

This new rate means that users can now access their funds with minimal fees, allowing them to keep more of their money. The tariff reduction is expected to drive greater financial inclusion by providing more people with the incentive to use Orange Money's platform for their financial needs. The company has highlighted that this step aligns with their mission to empower customers by making digital financial services more affordable.

Orange Money's 1% cash-out fee represents a competitive shift in the mobile money market, which may prompt other providers to review their rates as well. The company believes that this move will enhance user experience, promote financial inclusion, and increase the adoption of cashless transactions, supporting the growth of digital finance across the region.