By Mackie M. Jalloh
In a landmark move for Sierra Leone’s financial sector, Afrimoney and Ecobank Sierra Leone have officially launched a partnership that allows customers to make payments using Afrimoney mobile wallets directly on Ecobank point-of-sale (POS) terminals. This collaboration marks the first time mobile money can be used seamlessly on POS devices in the country, opening new avenues for financial inclusion and convenience for both consumers and merchants.
Speaking about the initiative, Kate Thompson, Head of Consumer Banking at Ecobank, described the partnership as a crucial step in bridging the divide between traditional banking and mobile money. “Currently, only about 29% of Sierra Leoneans hold bank accounts, while approximately 30% use mobile money wallets,” she noted. “This innovation allows these two groups to interact seamlessly, making everyday transactions simpler and more accessible.”
Thompson emphasized the practical benefits for ordinary citizens, citing examples such as parents paying school fees, students purchasing educational supplies, and everyday shopping. She hailed the solution as “financial inclusion in its purest form,” highlighting its potential to empower merchants who previously had limited options when customers lacked cash or bank cards.
Afrimoney CEO Martison Obeng-Agyei described the partnership as a forward-looking example of how technology can serve the public and transform financial services. “This is the first collaboration of its kind in Sierra Leone,” he said. Obeng-Agyei revealed plans to extend the service to ATMs, enabling users to withdraw mobile money directly from Ecobank ATMs, further enhancing interoperability across financial systems.
Obeng-Agyei added that the solution is secure, instant, and reliable, ensuring that payments made via POS are immediately credited to the merchant’s account. “It removes the need for merchants to cash out funds manually or make additional deposits, streamlining business operations and reducing friction in the payment process,” he explained.
Ecobank Managing Director Sebastian Ashong Katai emphasized that the partnership was built on collaboration rather than competition. He praised Afrimoney’s technology platform, extensive subscriber base, and market insights, which made it an ideal partner. “Access to money is only meaningful if people can use it freely,” Katai said. “By enabling mobile wallet payments on POS devices, we are giving customers freedom and convenience while driving financial inclusion nationwide.”
The partnership aligns with Sierra Leone’s broader digital transformation agenda and the National Payment Switch launched earlier this year by the Bank of Sierra Leone. It represents a major step toward integrating mobile money and traditional banking, fostering a more inclusive, efficient, and modern financial ecosystem.
With Afrimoney and Ecobank now enabling mobile payments across POS networks, Sierra Leoneans can look forward to a new era of digital transactions—one that combines convenience, security, and accessibility for businesses and consumers alike.
