Afrimoney and Ecobank in a groundbreaking initiative to advance financial inclusion and accelerate Sierra Leone’s digital payment ecosystem, Afrimoney and Ecobank Sierra Leone have entered into a strategic partnership that enables customers to make payments directly from their Afrimoney wallets on Ecobank Point-of-Sale (POS) terminals. The partnership was officially launched during a ceremony held at Ecobank’s Head Office in Freetown.
This collaboration marks a historic first in Sierra Leone, enabling mobile money transactions to be processed on POS devices, a development expected to significantly enhance digital financial accessibility for consumers and merchants nationwide.
Speaking at the launch, Kate Thompson, Head of Consumer Banking at Ecobank Sierra Leone, described the partnership as a transformative milestone in extending financial services to underserved communities. She noted that while approximately 29% of Sierra Leoneans have bank accounts, around 30% use mobile money wallets, two distinct customer bases that this innovation now connects.
“Before this innovation, only cardholders could use POS machines. Now, Afrimoney wallet holders can make payments instantly and securely on Ecobank POS terminals without needing a bank account,” Thompson explained.
She emphasized that the partnership simplifies everyday transactions, from parents paying school fees to small business owners accepting digital payments, and promotes financial inclusion by empowering individuals who previously relied solely on cash. Calling the initiative “financial inclusion in its purest form,” Thompson highlighted its potential to make daily life more convenient, efficient, and inclusive.
Afrimoney CEO Martison Obeng-Agyei described the collaboration as “a forward-looking example of technology serving the public” and the first of its kind in Sierra Leone’s financial landscape. He disclosed that plans are underway to extend the partnership to Ecobank’s ATM network, enabling Afrimoney customers to withdraw funds directly from ATMs, thereby deepening interoperability within the country’s financial system.
“Once a payment is made on an Ecobank POS, the funds will be instantly available in the merchant’s bank account,” Obeng-Agyei explained. “This eliminates the need to cash out and re-deposit, making the payment process seamless and secure.”
He further noted that the system was developed through a rigorous process to ensure reliability, security, and sustainability. “This is built for quality and longevity,” he said, expressing optimism about introducing additional innovations in 2026.
Sebastian Ashong Katai, Managing Director of Ecobank Sierra Leone, commended the collaboration as a deliberate step toward strengthening interoperability in the country’s financial system. He underscored that convenience and accessibility, not just affordability, are crucial to expanding financial inclusion.
“Money alone does not create access unless people have the freedom to use it,” Katai remarked. “By enabling mobile wallet payments on POS devices, we are expanding those freedoms and empowering customers to transact anywhere.”
He further linked the initiative to the Government of Sierra Leone’s broader digital transformation agenda and the Bank of Sierra Leone’s National Payment Switch, launched earlier this year. He emphasized that genuine progress in the financial sector depends on collaboration and integration rather than competition among financial service providers.
The Afrimoney-Ecobank partnership represents a major leap forward in bridging the gap between traditional banking and mobile money ecosystems. It provides Sierra Leoneans with a secure, convenient, and inclusive way to make digital payments while advancing national goals of financial inclusion and economic empowerment.
With this development, customers can now use their Afrimoney wallets to make payments across Ecobank’s POS network nationwide, ushering in a new era of digital convenience for consumers, merchants, and businesses across Sierra Leone.
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