Orange SL Launches “Kotoku” to Empower Micro-Businesses in Sierra Leone
By Mamajah Jalloh
On Friday, October 18, 2024, Orange, the leading telecommunications provider in Sierra Leone, officially launched “Kotoku” at its headquarters on Rawdon Street, Freetown. This innovative service is specifically designed to support micro-businesses, with a strong emphasis on empowering female petty traders by providing them with a dedicated business wallet integrated into Orange Money.
Joseph Saffa Tengbeh, the Head of Strategic Management and Partnership at Orange Money, explained that Kotoku aims to simplify financial transactions for small-scale businesses. One of the standout features of this service is its ability to allow users to maintain separate wallets for personal and business transactions while using the same Orange phone number. This dual-wallet feature eliminates the confusion that often arises from mixing personal and business finances.
Enrollment in the Kotoku service is designed to be user-friendly; customers can easily register by dialing #144810#, eliminating the need for complex password setups. This accessibility is crucial, especially for women traders who may have limited experience with digital financial tools.
Tengbeh emphasized that Kotoku users benefit from the ability to send and receive payments without incurring cash-out fees, which is a significant advantage for small businesses that operate on tight margins. By removing these fees, Kotoku enhances profitability for traders, enabling them to reinvest savings back into their businesses. To further support users, Orange has dedicated agents who assist with transactions, ensuring a seamless experience.
In addition to facilitating transactions, Kotoku also provides access to small business loans of up to five thousand Leones. This financial support can be a game-changer for entrepreneurs looking to expand their operations or manage unexpected expenses.
David Mansaray, CEO of Orange, reaffirmed the company’s dedication to supporting small businesses in Sierra Leone. He noted that with Kotoku, merchants can securely receive payments without the need to carry cash, which adds an essential layer of security to their operations. The service also enhances the reliability of transactions, as payments cannot be reversed without proper verification, thereby reducing the risk of fraud.
Chief Commercial Officer Haffie Haffrer expressed his enthusiasm for the launch, highlighting the transformative potential of Kotoku for small-scale entrepreneurs. He noted that the service not only simplifies payment processes but also contributes to the overall growth of the local economy by empowering small businesses.
Matty Kanu, Chairlady of the Vegetable Sellers Association, praised Orange for its efforts in making business transactions more accessible and reducing losses for micro-entrepreneurs. She highlighted that many small traders face challenges related to cash handling, such as theft or loss. With Kotoku, these concerns are significantly alleviated, allowing traders to focus more on their businesses and less on security issues.
Overall, Kotoku is poised to revolutionize how small businesses in Sierra Leone manage their finances. By providing a secure, convenient, and cost-effective solution, the service aims to foster financial inclusion and drive economic growth within the community. With its commitment to supporting micro-businesses, Orange is setting a new standard for digital financial services in Sierra Leone.
