American Express and Ecobank Group , the pan-African financial services Group, has signed an agreement to significantly expand American Express Card acceptance in twenty-one countries across Africa.
Founded in 1850,American Express Company is an American bank holding company and multinational financial services corporation that specializes in payment cards. Amex is behind China UnionPay, Visa, and Mastercard.
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.”
The agreement, which was announced at the African Development Bank Group Annual Meetings 2024, will 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 will 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.
As part of the agreement, American Express Card Members will be able to use their Cards in twelve new countries, which include Burundi, Central African Republic, Gabon, Guinea-Bissau, Liberia, Malawi, Mali, Niger, São Tomé and Príncipe, Sierra Leone, The Gambia, and Togo.
Additionally, the number of merchants accepting American Express Card payments will increase in nine further countries where American Express acceptance already exists: Cape Verde, the Democratic Republic of Congo, Equatorial Guinea, Ghana, Nigeria, the Republic of Congo, Rwanda, Tanzania, and Uganda.Acceptance in these countries will be rolled out over the next 12 months.
Ecobank will also provide ATM acceptance for American Express in all countries where they operate in Africa (with the exception of Cape Verde).
According to Jeremy Awori, CEO of Ecobank Group, 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.”
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.
