Afrimoney and Ecobank Sierra Leone have today formalised a strategic partnership that allows customers to pay for goods and services using Afrimoney wallets on Ecobank point-of-sale (POS) terminals.
This collaboration marks the first time in Sierra Leone that mobile money payments will be made directly on POS devices, something financial experts say greatly expand access to digital financial services for both customers and merchants.
Kate Thompson, head of consumer banking at Ecobank, described the partnership as a milestone in connecting two previously separate financial ecosystems. “Only about 29% of Sierra Leoneans have bank accounts, while around 30% use mobile money wallets. This innovation bridges that gap,” she said.
Thompson said that the initiative simplifies everyday transactions—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 daily life more convenient and economically inclusive.
Afrimoney CEO Martison Obeng-Agyei hailed the partnership as a “forward-looking example of technology serving the public,” stating that it is the first collaboration of its kind in the country’s financial landscape. He revealed that Afrimoney and Ecobank plan to extend the service to ATMs, allowing customers to withdraw mobile money directly from Ecobank ATMs—a move that would further enhance interoperability.
Obeng-Agyei highlighted key benefits for both customers and merchants: simplified, secure, and instant payment processes. “Once a payment is made on an Ecobank POS, the funds are instantly available in the merchant’s account,” he explained. “It removes the hassle of cashing out and redepositing money.”
He added that the solution was carefully developed for reliability and long-term impact, saying, “It’s built for better quality and longevity.”
Ecobank Managing Director Sebastian Ashong Katai said the partnership stemmed from a deliberate decision to collaborate rather than compete. He noted that Afrimoney’s strong technology, large subscriber base, and retail insight made it the ideal partner.
“Convenience and accessibility—not just affordability—are key to successful banking,” Katai said. “Money alone does not create access unless people have the freedom to use it. By enabling mobile wallet payments on POS devices, we’re expanding those freedoms and empowering customers to transact anywhere.”
Katai also connected the initiative to Sierra Leone’s broader digital transformation agenda, aligning it with the National Payment Switch launched earlier this year by the Bank of Sierra Leone. He emphasized that meaningful progress in the financial sector depends on collaboration and interoperability, not competition.
The Ecobank–Afrimoney partnership represents a major stride in bridging the gap between traditional banking and mobile money ecosystems. It provides Sierra Leoneans with a secure, convenient, and inclusive way to transact, reinforcing both institutions’ commitment to digital financial growth and national financial inclusion.
With this breakthrough, customers can now make payments across Ecobank POS network using their Afrimoney wallets, ushering in a new era of digital convenience for businesses and consumers alike.
