Cameroon – Banking: Ecobank bets on digital to boost financial inclusion in Cameroon

Ecobank Cameroon Launches Digital Application to Send and Receive Money Across 33 African Countries
Written by Deckson N.

Ecobank Cameroon’s Directorate-General informs in a press release that in 2017 it is putting on digital channels to boost the financial inclusion currently estimated in the country to 20%, over a population of over 20 million people.

To surpass the 20% banking rate, Ecobank says it will capitalize on digital services such as “Ecobank Mobile App“, personal and corporate internet banking, the use of barcodes for payments, and the partnership with third parties. “The digital strategy in question directly favors one of the main factors of development of our economies, namely the financial and economic inclusion of the populations. Ecobank will thus be able to reach and serve a greater number of customers in Cameroon, including those who are unbanked, “says the bank.

Already in 2016, the banking group, the digital transformation has enabled it to consolidate its growth recorded in 2016 with a pre-tax increase of 23% (CFAF 13.840 billion) compared to 2015, and growth of equity return ratio of 50%.

In Cameroon, as in Africa in general, Ecobank is even thinking of merging some of its agencies to better optimize digital. The objective of the pan-African group is to serve 100 million customers by 2020 compared to 11 million currently.

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Deckson N.

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