Ecobank Unveils Agency Banking in Liberia

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Enterprise Television- Ecobank Unveils Agency Banking in Liberia

Pan-African bank Ecobank Liberia Limited has launched a new banking service in Liberia called Agency Banking, an intended innovative to make banking easy for its clients in Liberia.

The Managing Director George Mensah-Asante, in Monrovia said that the new service will offer deposit and withdrawal services through accredited agents to reach the most remote areas of the country.

According to the World Bank, only 34 percent of adults in sub-Saharan Africa had a bank account in 2014 up to 24 percent in 2011 while the global system for mobile communication 2016 report revealed that at the end of 2016 there were 420 million Mobile subscribers in Sub -Saharan Africa.

Mr. Mensah said that Ecobank’s service expands the bank’s network and will allow our clients to deposit or withdraw funds from our accredited agents in their communities.

He also disclosed that the new service will immensely create job opportunities for many and enhance the existing businesses of their partners.

The deputy Finance and Development Planning Minister for Fiscal Affairs, Samora Wolokolie said the bank’s new service is cognizant of the government’s pro-poor agenda and is contributing its quota to the country.

He said the government will assist in ensuring that full intent and purpose of the Agency Banking platform is achieved.

Report shows that Ecobank currently features in 36 countries in West, Central and Eastern Africa. Launched in 1985, the bank provides both microfinance and traditional financial services and it totals $ 22 billion in assets, 17,500 employees and 1,200 branches in 2017.