<<Print>>

Managing Director of Ecobank Ghana Limited and Regional Executive for Anglophone West Africa region, Mr. Daniel Nii Kwei-Kumah Sackey has indicated that the bank’s digital drive which commenced in 2016 saw Ecobank launching its Mobile Application simultaneously in 33 countries.

In a press conference to brief the media on Ecobank’s success in the digitization drive as part of its annual general meeting, Mr. Dan Sackey revealed that Ecobank has become Ghana’s leading bank in the digital space.

According to the Managing Director of Ecobank Ghana Limited, the bank since the launch of their digitization drive and adoption of mobile technologies, Ecobank has over 500, 000 subscribers on their mobile app.

“For us the future is digital and even now, it is possible for anybody anywhere to do business with Ecobank across the globe, using the Ecobank OMNI technology, online banking or the Ecobank Mobile App. The type of banking we do today ensures that we are more present than ever before, creating even greater value for our customers”, he stated.

He emphasized that Ecobank Mobile Application is not branch-dependent and allows both customers and non-customers to access the App for their financial transaction in the country and cross-border.

“Once activated, users can send and receive funds within Ghana and across 33 other African countries, access their account statements, top up airtime, settle bills, pay for utilities and receive instant payment notifications. Our customers can also communicate with customers service at any time of the day or night, providing unique customer touch points”, he revealed.

Mr. Dan Sackey stressed that the flagship corporate payment platform, OMNI has been well received by their clients and currently boasts of an estimated annual transaction value of GHc12.3 billion in 2017.

He again mentioned that Ecobank as a group has set for itself a target of signing on 100million customers unto the Ecobank Mobile App across Africa by the year 2020; thus, with this focus the bank will continue to grow its business organically in the medium to long term with the ultimate aim of ensuring financial inclusion throughout the continent.

“We have also broadened our bancassurance product suite with the addition of non-life insurance products working with our partners in the bancassurance space”, he mentioned.

He however assured the stakeholders of Ecobank that the management of the bank will consolidate the gains from these numerous initiatives and continue to return value to the shareholders.

Touching on Ecobank financial review for 2017, Mr. Dan Sackey said despite the challenging environment, the bank recorded total revenue of GHc1.1 billion, keeping the market leadership in revenue terms, although this was lower by 7 percent compared to 2016.

He explained the slight drop in revenue to be as a result of the declining interest rate environment driven in turn by the successful implementation of the TSA impacting the net interest income