By: Hassan Osman Kargbo
Ecobank Group, one of the leading Pan-African financial services Group, has signed agreement to expand American Express Card acceptance in twenty-one countries across Africa.
According to the agreement, the American Express Card Members will be able to use their Cards in twelve new countries: Burundi, Central African Republic, Gabon, Guinea-Bissau, Liberia, Malawi, Mali, Niger, São Tomé and Príncipe, Sierra Leone, The Gambia, and Togo.
Additionally, the number of merchants accepting American Express Card payments would be increased in nine further countries where American Express acceptance already exists: Cape Verde, the Democratic Republic of Congo, Equatorial Guinea, Ghana, Nigeria, the Republic of Congo, Rwanda, Tanzania, and Uganda. Acceptance in these countries will be rolled out over the next 12 months.
American Express products have been in Africa for over 50 years, and its presence in the region continues to expand. American Express consumer Cards and corporate Cards/solutions are issued in more than 40 countries across the region through its joint venture American Express Middle East (AEME), license agreements with financial institutions, and direct issuance of Global Dollar Cards. Through its licensees and AEME, American Express is committed to expanding the number of places where local Card members, international travellers, and local and international businesses can use their American Express Cards for daily spending, business, or tourism in the region.
Ecobank will also provide ATM acceptance for American Express in all countries where they operate in Africa (with the exception of Cape Verde).
The agreement, which was announced at the African Development Bank Group Annual Meetings 2024, will strengthen the American Express global network by increasing the number of locations where American Express Card Members can use their Cards in Sub-Saharan Africa. The agreement will also enable merchants to attract business from a new customer base of American Express consumer, business and corporate Card Members in Africa and around the world.
“We are delighted to welcome American Express to our network, reinforcing our commitment to offering innovative payments solutions for customers across Africa, said Jeremy Awori, CEO of Ecobank Group. This agreement will benefit American Express Card Members, providing them with greater choice and will help merchants to grow their businesses. It also highlights the scalability of Ecobanks unrivalled borderless banking ecosystem and network across Africa”,
Mohammed Badi, President of Global Network Services at American Express, commented: This agreement with Ecobank is a major milestone for American Express acceptance across Africa as it will expand our presence in sub-Saharan Africa to 42 countries from 30 at present. With Ecobanks support, we look forward to providing merchants in these countries access to higher-spending American Express Card Members both in Africa and from around the world.
This collaboration aligns with Ecobanks Growth, Transformation and Returns strategic agenda. Ecobank is committed to offering its retail customers innovative and easy-to-use financial solutions through its unified banking platform across Africa.
