Ecobank Group Expands AmEx Card Acceptance Across 21 African Countries

American Express and Ecobank Group, a leading pan-African financial services provider, have announced a landmark agreement to significantly expand American Express Card acceptance across 21 African countries.

New and Expanded Markets

Under 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 Príncipe, Sierra Leone, The Gambia, and Togo. Additionally, American Express acceptance will increase in nine countries where it already exists: Cape Verde, the Democratic Republic of Congo, Equatorial Guinea, Ghana, Nigeria, the Republic of Congo, Rwanda, Tanzania, and Uganda. The rollout in these countries will occur over the next 12 months.

Enhancing Merchant and ATM Acceptance

Ecobank will provide ATM acceptance for American Express in all African countries where it operates, except Cape Verde. This initiative is poised to strengthen the American Express global network by increasing the number of locations where card members can use their cards in Sub-Saharan Africa. The agreement also aims to attract business from a new customer base of American Express consumer, business, and corporate card members in Africa and globally.

Statements from Leaders

“We are delighted to welcome American Express to our network, reinforcing our commitment to offering innovative payment solutions for customers across Africa,” said Jeremy Awori, CEO of Ecobank Group. “This agreement will benefit American Express Card Members by providing them with greater choice and helping merchants grow their businesses. It also highlights the scalability of Ecobank’s unrivaled borderless banking ecosystem and network across Africa.”

Mohammed Badi, President of Global Network Services at American Express, commented, “This agreement with Ecobank is a major milestone for American Express acceptance across Africa as it will expand our presence in sub-Saharan Africa to 42 countries from 30 at present. With Ecobank’s support, we look forward to providing merchants in these countries access to higher-spending American Express Card Members both in Africa and from around the world.”

Strategic Impact and Future Prospects

The partnership, announced at the African Development Bank Group Annual Meetings 2024, underscores a strategic move to enhance financial inclusion and digital payment capabilities across the continent. The expansion will not only provide more convenience to American Express Card Members traveling or doing business in Africa but will also support local merchants by opening up new opportunities for growth and customer engagement.

This development is part of a broader trend of increasing digital payment adoption in Africa, driven by the need for more secure and efficient financial services. The integration of American Express into Ecobank’s network is expected to play a crucial role in boosting the economic activities in the region by facilitating smoother and more reliable transactions.