SocGen Takes Up Challenge From Orange With African Mobile Bank
- Company plans to have operations in six countries by next year
- Bank aims to double client base in Africa within three years
This article is for subscribers only.
Societe Generale SA, challenged on its home turf by Orange SA’s push into banking, is fighting back with a new mobile lender in Africa.
The French lender started YUP, a new app for smartphones, in Senegal and Ivory Coast and plans to begin operating in four other sub-Saharan countries this year and next, the company said on Thursday. The bank aims to double its client base to 2 million in the region within three years.