MICROCAPITAL BRIEF: After Launch in Tanzania, Ecobank Mobile App Available in 33 African Countries

Ecobank Tanzania, a unit of Togo-based Ecobank Group, recently announced its launch of the Ecobank Mobile App, which allows customers to use mobile devices to perform fund transfers, top-up airtime, pay bills, check forex rates, view account statements, make retail payments, and interface with payment cards and checks.

Enoch Osei-Safo, the Managing Director of Ecobank Tanzania, said the app will “help our customers spend, shop and pay without cash and with more convenience than they have ever imagined.”

Ecobank Group CEO Ade Ayeyemi said the app is “the first unified application of its type delivered by any institution to be used concurrently in 33 African countries.”

Ecobank is a commercial bank serving individuals, businesses and governments. As of October 2016, it reported total assets of USD 22.7 billion, return on equity of 13 percent and a consumer-base of approximately 11 million people from operations in 33 countries.

By Phoebe Rorke, Research Associate

Sources and Additional Resources

The Exchange
Ecobank Tanzania Launches Innovative Digital Product

Ecobank – The Pan African Bank

Quarterly Report 9M 2016 Earnings Presentation

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