In a landmark move aimed at deepening financial inclusion and promoting digital payments, Afrimoney and Ecobank Sierra Leone have entered into a strategic partnership that allows customers to pay for goods and services using Afrimoney wallets on Ecobank Point-of-Sale (POS) terminals. The initiative was officially launched at Ecobank’s Head Office in Freetown.
The partnership marks the first time in Sierra Leone that mobile money payments can be made directly on POS devices; a development expected to significantly expand access to digital financial services for both customers and merchants.
Speaking at the event, Kate Thompson, Head of Consumer Banking at Ecobank Sierra Leone, described the collaboration as a significant milestone in bringing financial services closer to underserved populations. She explained that while only about 29% of Sierra Leoneans hold bank accounts, approximately 30% use mobile money wallets, two largely separate customer bases that this partnership now connects.
“Before this innovation, only cardholders could use POS machines. Now, Afrimoney wallet holders can make payments instantly and securely on Ecobank POS without needing a bank account,” Thompson stated.
She emphasized that the initiative simplifies daily transactions for ordinary citizens—from parents paying school fees to students purchasing supplies—while empowering merchants who previously had to turn away customers without cash or cards. Calling it “financial inclusion in its purest form,” she said the solution was designed to make everyday life more convenient and economically inclusive.
Afrimoney CEO, Martison Obeng-Agyei, hailed the partnership as a “forward-looking example of technology serving the public,” adding that it represents the first collaboration of its kind in Sierra Leone’s financial landscape.
He disclosed that Afrimoney and Ecobank plan to extend the service to ATMs in the near future, allowing customers to withdraw mobile money directly from Ecobank ATMs, a move that would further advance interoperability in the country’s financial system.
Obeng-Agyei highlighted the benefits for customers and merchants alike: simplified and secure payment processes, instant settlements, and greater ease of doing business. “Once a payment is made on an Ecobank POS, the funds will be as good as in the merchant’s bank account immediately,” he explained. “It removes the hassle of cashing out and re-depositing money.”
He added that the initiative was intentionally developed over time to ensure quality and reliability. “It’s built for better quality and longevity,” he said, expressing optimism about further innovations in 2026.
Ecobank Sierra Leone’s Managing Director, Sebastian Ashong Katai, said the partnership was born out of a deliberate decision to collaborate rather than build in isolation. He noted that Afrimoney’s strong technology, vast subscriber base, and retail insight made it the ideal partner.
The MD underscored that convenience and accessibility, not just affordability, are key to the success of banking products. “Money alone does not create access unless people have the freedom to use it,” he remarked. “By enabling mobile wallet payments on POS devices, we’re expanding those freedoms and empowering customers to transact anywhere.”
He also linked the initiative to Sierra Leone’s broader national agenda for digital financial transformation, aligning it with the Bank of Sierra Leone’s launch of the national payment switch earlier this year. He noted that true progress in the financial sector comes from collaboration and interoperability among players, not competition.
The Ecobank–Afrimoney partnership represents a major step toward bridging the gap between traditional banking and mobile money ecosystems. It offers Sierra Leoneans a secure, convenient, and inclusive way to transact; reflecting both institutions’ shared commitment to expanding digital financial services and supporting the Central Bank’s drive for greater financial inclusion.
With this development, customers can now make payments across Ecobank’s POS network using their Afrimoney wallets, marking a new era of digital convenience for businesses and consumers alike.
