• Coris Bank International Guinea launched its mobile money solution, Coris Money, on February 16, 2026.
• Orange held 92% of Guinea’s 3.2 million mobile money subscribers as of June 2025, according to ARPT.
• Mobile money transactions reached 1.44 billion in 2024, with total value rising to 198,489 billion Guinean francs.

On Monday, February 16, Coris Bank International Guinea launched its electronic money solution, Coris Money. The bank entered a market that telecom operators have largely dominated until now.

Coris Money operates through a mobile application available on Android and iOS platforms. The application enables users to deposit and withdraw money and to execute fast and secure transfers. The platform also allows users to pay utility bills, settle TV and internet subscriptions, pay merchants and top up airtime.

Mourana Soumah, Minister of Communication, Digital Economy and Innovation, attended the launch ceremony. He described the solution as an essential tool to address financial inclusion challenges by facilitating access to digital banking services with or without a prior bank account. He also urged stakeholders to accelerate transaction digitalization to strengthen transparency and accountability within the broader digital transformation agenda.

Coris Money entered a Guinean mobile money market shared between Orange and MTN. As of end-June 2025, Orange controlled 92% of the 3.2 million mobile financial service subscribers recorded by the Autorité de régulation des postes et des télécommunications (ARPT). MTN reduced its market share from 16% in June 2023 to 8% in June 2025.

The market expanded rapidly. Subscriber numbers increased from 1.9 million in June 2022 to 3.2 million in June 2025, representing growth of 68.4%. The number of transactions rose from 540 million in 2021 to 1.44 billion in 2024. The total transaction value climbed from 99,590 billion Guinean francs (approximately $11.4 billion) to 198,489 billion Guinean francs over the same period. Sector revenue increased from 922.16 billion GNF in 2021 to 975.22 billion GNF in 2024. However, mobile money penetration stood at only 23% as of end-June 2025.

Coris Money’s app-only model may limit its reach. The solution excludes users who lack smartphones and who rely on basic or feature phones and USSD codes to access mobile money services provided by telecom operators. Coris Bank has not announced an equivalent USSD-based solution in a country where only 26.57% of people aged over 15 owned a smartphone in 2024.

The platform also requires internet access. This requirement raises questions about nationwide network coverage and users’ ability to afford data plans. ARPT estimated internet penetration at around 58% based on its latest data. However, DataReportal reported a significantly lower penetration rate of 26.5% as of end-December 2025.

The market’s growth trajectory offers opportunities, yet Coris Money must navigate structural limitations and entrenched competition to secure a foothold.

This article was initially published in French by Isaac K. Kassouwi

Adapted in English by Ange J.A de Berry Quenum