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Cameroon: Afriland First Bank Launches Sara Money and Lowers Prices For Phone Money Transfers

sara money
Afriland tops market with sara

The leader in electronic money transfer, the multinational Orange, announced a general decrease in its rates.

Apart from the 0.2% tax levied, consumers can now transfer 500,000 CFA francs at 500 CFA francs instead of 1,500 CFA francs before for example.

They can withdraw 500,000 CFA francs at 3500 CFA francs instead of 3600 CFA francs before.

But in reality, consumers are getting something else. Like Dr. Ariside Mono, who was full of praise for having withdrawn 200,000 CFA francs at 4,000 CFA francs.

This price cut at Orange comes after Afriland First Bank announced the launch of its Sara Money solution for money transfer by phone.

To transfer or withdraw 500,000 CFA francs, you pay 0 CFA francs.
Transfers here are completely free, regardless of the amount. Only the 0.2% tax required by the government is levied.

A certain death of Orange Money and MTN Mobile Money is announced, if the latter who have “killed” Express Union, do not adapt to this new deal.

This is a godsend for Cameroonians who have been clamouring for lower prices on transfers.

Afriland First Bank also relies on the powerful and vast network of Express Union and Emy Money.

Indeed, in areas where the bank does not have a branch, its customers can carry out their operations in the branches of Express Union and Emy Money.

The bank also claims that you do not need to have a bank account to benefit from this service. All you need to do is present your identity card and your Sara Money account will be opened.

However, one wonders if SARA MONEY from Afriland First Bank will still be free of charge as Cameroonians are beginning to adopt it massively.

Published on 03.01.2023

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