Ecobank Group takes a new step in financial inclusion in Africa

The Ecobank Group (www.Ecobank.com) and Semoa, a Fintech based in Lomé, enable mobile money users in Togo to perform banking transactions faster and easier, across the Western Economic and Monetary Union. African ( UEMOA) via a new digital banking service via Whatsapp called “Express cash by Semoa”.

The Ecobank Group, whose network covers 35 countries across Africa, is the first bank to integrate this type of service into its ATMs and Express Point branches. Customers simply send a Whatsapp message – meaning the service is available 24/7 – to Semoa BOT called Dédé to request tokens for withdrawals, bill payment or money transfer to friends and relatives in Togo and across the UEMOA Region.

The development by Semoa of the API – the application programming interface which allows applications to communicate with each other – creates the next-generation digital customer experience and further validates the Ecobank Group as one of the innovative leaders in Open Banking in Africa. By leveraging this technology, the Ecobank group bridges the gap between the digital and monetary economy. This enables merchants and unbanked merchants to accept and make payments digitally, thereby accelerating financial inclusion.

Edem Adjamagbo, CEO and founder of SEMOA at the launch of this new innovative service said: “Xpress Cash by SEMOA– where Ecobank enables its cutting-edge infrastructure with SEMOAThe secure online services of, is the perfect example of a true partnership in financial innovation with the potential to change the lives of many people in West Africa. Indeed, the fact that people without a bank account or credit card can now withdraw their mobile money directly from Ecobank ATMs and Xpress points throughout the UEMOA region is a game changer that will help foster financial inclusion”.

Djiba diallo, the senior fintech advisor of the Ecobank group said: ‘As digital banking becomes more and more important, the Ecobank group joins the growing number of banks, card companies and payment service providers around the world using developers like Semoa, one of the most important fintechs Africa, to improve the customer experience. Made more accessible by Open Banking, which provides secure access to Bank data, fintechs are developing systems that issue orders via APIs to third parties, creating a transparent service allowing customers to carry out their transactions and monitor their finances in one place.. ‘

The success of the new wallet service is made possible by Semoa’s ability to test connectivity, authentication and authorization of customer transactions before the new service goes live through Ecobank’s sandbox. In addition, the revenues generated by the service are split equally between Ecobank and Semoa, creating great business opportunities for other fintechs. As a result, the Ecobank Group is encouraging other FinTech companies to access its sandbox. API develop more innovative and smarter services.

Register to access Sandbox on the Ecobank Group website API website at https://bit.ly/3AEkyov.

Distributed by APO Group on behalf of Ecobank.

Media contact:
Christiane Bossom
Communication manager
Group corporate communication
Phone +228 22 21 03 03
Email: [email protected]

About Ecobank Transnational Incorporated (‘ETI‘or’ The Group ‘):
Ecobank Transnational Incorporated (‘ETI‘) is the parent company of the Ecobank Group, the leading independent pan-African banking group. The Ecobank Group employs more than 14,000 people and serves approximately 29 million customers in the consumer, commercial and corporate banking sectors in 33 African countries. The Group has a banking license in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, United Kingdom and Dubai, United Arab Emirates. The Group offers a full range of banking products, services and solutions, including bank and deposit accounts, loans, cash management, advisory, trading, securities, wealth and asset management. ETI is listed on the Nigerian Stock Exchange in Lagos, the Ghana Stock Exchange in Accra and the Regional Stock Exchange in Abidjan. For more information, please visit www.Ecobank.com.

About SEMOA – Fintech 4 Banks:
SEMOA is B2B Pan-African fintech providing banks and other financial institutions with a unified SaaS platform allowing them to securely engage their respective customers and prospects with value-added mobile services like bank2wallet transaction capabilities, live customer service voice chat (whatsapp, telegram…) or perfect reporting and data analysis capabilities thanks to its cutting edge back office platform for industry specialists.

In the heart, SEMOA is an expert in secure transactions and private communication, meeting your most essential needs. For more information, please visit www.Semoa-group.com.

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Edem Adjamagbo, CEO & Founder Semoa
Ecobank

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