Ecobank Group has announced an agreement to significantly expand American Express Card acceptance in Nigeria and 20 other countries across sub-Saharan Africa.
The Group said the agreement would make it possible for American Express Card members to use their cards in 12 new countries, including Burundi, Central African Republic, Gabon, Guinea-Bissau, Liberia, Malawi, Mali, Niger, São Tomé and Príncipe, Sierra Leone, The Gambia, and Togo.
Also, the statement said the number of merchants accepting American Express Card payments would increase in nine more countries where American Express acceptance already exists, namely Cape Verde, the Democratic Republic of Congo, Equatorial Guinea, Ghana, Nigeria, the Republic of Congo, Rwanda, Tanzania, and Uganda.
The Group said acceptance of the American Express Card in these countries would be rolled out over the next 12 months.
Besides, Ecobank would also provide automated teller machines (ATM) acceptance for American Express in all countries where they operate in Africa (with the exception of Cape Verde).
The agreement, which was announced at the African Development Bank Group Annual Meetings 2024, would strengthen the American Express global network by increasing the number of locations where American Express Card Members can use their Cards in Sub-Saharan Africa.
The agreement would also enable merchants to attract business from a new customer base of American Express consumer, business and corporate Card Members in Africa and around the world.
“We are delighted to welcome American Express to our network, reinforcing our commitment to offering innovative payments solutions for customers across Africa,” Chief Executive Officer of Ecobank Group, Jeremy Awori, said.
“This agreement will benefit American Express Card Members, providing them with greater choice and will help merchants to grow their businesses. It also highlights the scalability of Ecobank’s unrivalled borderless banking ecosystem and network across Africa.”
President of Global Network Services at American Express, Mohammed Badi, said the agreement with Ecobank was a major milestone for American Express acceptance across Africa as it would expand the bank’s 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,” he said.
“This collaboration aligns with Ecobank’s Growth, Transformation and Returns strategic agenda. Ecobank is committed to offering its retail customers innovative and easy-to-use financial solutions through its unified banking platform across Africa,” he added.
Ecobank Group is the private pan-African financial services group present in 35 sub-Saharan African countries, as well as France, UK, UAE and China, providing a single gateway for payments, cash management, trade and investments.
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.