July 6

Ecobank Group Integrates Express Cash by Semoa to Accelerate Financial Inclusion in Africa

By Pavithra R

The Ecobank Group, a pan-African banking conglomerate and Semoa, a Fintech based in Lomé, has announced enabling mobile money users in Togo to carry out banking faster and easier, across the West African Economic and Monetary Union ( WAEMU) through a new digital banking service via Whatsapp called ‘Express cash by Semoa’.

“Xpress Cash by SEMOA- whereby Ecobank enables its cutting-edge infrastructure with SEMOA’s secured online services, is the perfect example of a true partnership in financial innovation with the potential to change the lives of many in West Africa. Indeed, the fact that people with no bank accounts, or credit cards, can now cash out their mobile money directly out of Ecobank ATMs and Xpress Points throughout the WAEMU region is a game changer that will help foster financial inclusion,” said Edem Adjamagbo, CEO and founder of SEMOA during the launch.

Photo courtesy of BBC World Service.

Source: IBS Intelligence (link opens in a new window)

Finance, Technology
financial inclusion, fintech