IN a landmark agreement unveiled at the African Development Bank Group Annual Meetings 2024, American Express and Ecobank Group, the leading pan-African financial services organisation, have announced a strategic partnership to expand American Express Card acceptance across 21 African countries. This collaboration is set to enhance the financial landscape of the continent by increasing the number of merchants who can accept American Express payments.
Through this agreement, American Express Card Members will be able to use their cards in twelve new countries: Burundi, Central African Republic, Gabon, Guinea-Bissau, Liberia, Malawi, Mali, Niger, São Tomé and PrÃncipe, Sierra Leone, The Gambia, and Togo. Additionally, the initiative will boost merchant acceptance in nine existing markets: Cape Verde, the Democratic Republic of Congo, Equatorial Guinea, Ghana, Nigeria, the Republic of Congo, Rwanda, Tanzania, and Uganda. This expansion will be rolled out over the next 12 months, with Ecobank also offering ATM acceptance for American Express in all operational countries, excluding Cape Verde.
‘This agreement marks a significant milestone for American Express in sub-Saharan Africa, expanding our reach to 42 countries from the current 30,’ stated Mohammed Badi, President of Global Network Services at American Express. ‘With Ecobank’s extensive network, we aim to provide merchants in these countries access to higher-spending American Express Card Members both locally and globally.’
Jeremy Awori, CEO of Ecobank Group, expressed his enthusiasm for the partnership, saying, ‘We are delighted to welcome American Express to our network, reinforcing our commitment to offering innovative payment solutions for customers across Africa. This agreement will benefit American Express Card Members by providing them with greater choice and will help merchants grow their businesses. It also highlights the scalability of Ecobank’s unrivalled borderless banking ecosystem and network across Africa.’
The partnership is a key component of Ecobank’s Growth, Transformation, and Returns strategic agenda, underscoring the bank’s dedication to delivering innovative and user-friendly financial solutions through its unified banking platform across the continent. This move is expected to attract a new customer base of American Express consumer, business, and corporate Card Members, thereby fostering economic growth and business expansion in the region.
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