Mr. Asante (L) presents a copy of the document to Mr. Adegunle., In partnership to augment revenue
One of Liberia’s most reliable financial institutions, Ecobank, on Friday, February 15, 2019, signed a partnership agreement with Total-Liberia to offer agency banking that will serve customers at all filling stations across the country.
Agency banking is where a commercial bank appoints a third party (agent) to transact business on its behalf.
Peter Adegunle, Total-Liberia Managing Director, who launched the service at the entity’s Center Street branch in Monrovia, said that it will begin with 100 stations across the country; carefully selected to enable members of the public to carry out financial transactions, such as deposits, withdrawals and account opening at the outlets known as ‘Ecobank Xpress Points.’
“For now, we are starting with only five Total filling stations in Monrovia that include the one on Center Street, Caldwell, VOA, Bye-Pass and Sinkor 6th Street,” Mr. Adegunle said.
He added that transfers to Ecobank and other banks, bill payments, and airtime top-up would be carried out with ease at the selected locations.
Adegunle added, “we are happy today to partner with Ecobank, because it is the biggest in the Liberian economy.”
He described the partnership with Ecobank as an illustration of one of Total’s strategies that would strengthen the cashless initiative in the country.
Ecobank-Liberia managing director, George Mensah-Asante, described the deployment of Ecobank Xpress Points via Total-Liberia locations as an extension of the bank’s distribution and financial inclusion strategy to take banking services to the doorstep of every citizen.
He stated that the outlets would offer convenient and accessible financial services in a cost-effective and secure manner.
“As you are no doubt aware, Ecobank introduced Agency Banking in Liberia on May 10, 2018, to bring banking services closer to the doorsteps of our customers, enabling them to deposit and withdraw cash from accredited agents within their local communities.“Friday’s event marks yet another milestone for Ecobank, since we embarked on the second phase of our digital journey with the launch of the Ecobank Mobile App in January, 2017,” Asante said.He said that the bank’s Mobile App offers customers numerous services that provide banking at their fingertips in a convenient and easily accessible manner.“Today any individual with a registered Lonestar or Orange mobile number can open an Ecobank Xpress Account via their mobile phone without any paperwork. Ecobank-Liberia currently has over 120,000 mobile app downloads, and has opened over 110,000 Xpress […]
