Ecobank joins MPESA agency stable

November 5, 2010
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, NAIROBI, Kenya, Nov 5 – Safaricom has added Ecobank into its stable of M-Pesa Super Agents from where ordinary dealers of the award-winning money transfer service can access electronic float and make cash withdrawals.

This is after the bank embarked on the provision of M-Pesa Super Agency services which is in line with its strategy of offering its customers easier access to mobile money transfer facilities. 

“With our 19 branches spread across the country, we believe that M-Pesa agents will also be served efficiently by our dedicated staff, who will also assist other M-Pesa users where need be,” said Ecobank’s Managing Director Tony Okpanachi.

Additionally, the bank has introduced M-Pesa bulk payment services, where corporate and institutional customers can pay their employees through the service.

This will reduce the workload of processing workers’ salaries, while offering the employee easy and quick access to their salaries, Mr Okpanachi said.

With the venture which makes Ecobank the 9th bank to offer this service, he added that they were determined to play a role in reaching out to the millions of financially excluded Kenyans across the country.

Ecobank Kenya recently introduced Rapid Transfer – a money transfer service available across its 30 African country affiliates.

It has also added two new branches- Busia and Malindi – to its fold as it seeks to expand in Kenya. The MD said the bank plans to implement agency banking in addition to new financial services.

Registered in Lome, Togo, Ecobank Transnational Incorporated (ETI) is the parent company of the leading independent regional banking group in Africa.

It currently has a presence in 30 African countries, including Côte d’Ivoire, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, Tanzania, Togo, Uganda and Zambia.

The group is also represented in France through its affiliate EBI S.A. in Paris.

ETI also has a presence in Dubai, United Arab Emirates, where it holds a license for a representative office but is not yet operational.

ETI is listed on the stock exchanges in Lagos, Accra and the West African Economic and Monetary Union (UEMOA). The Group is owned by more than 180,000 local and international institutional and individual shareholders.

It has over 11,000 employees from 31 different countries in over 750 branches and offices. Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.

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