Ecobank Ghana's Executive Director of Corporate and Investment Banking, Henry Ampong, declared that technology must transform lives, not just banking. He made this statement to drive financial inclusion and expand access to economic opportunities across Africa. Mr. Ampong spoke at the Ecobank–JoyNews Business Financial Dialogue on Tuesday, July 28, at the Ecobank Auditorium.
Mr. Ampong explained that digital innovation is reshaping how people live, work, and transact. He added that it is redefining access to financial services across the continent. Digital innovation enables individuals, businesses, and communities to participate more actively in the formal economy. This participation occurs regardless of their geography, income levels, or background.
This focus aligns with Ghana's broader economic narrative of leveraging technology for development. The country has seen significant growth in its digital economy, with mobile money penetration among the highest in Africa. Ecobank's strategy supports the national agenda to formalize the economy and reduce the unbanked population. This effort is crucial for sustainable economic growth and poverty reduction.
“At Ecobank, we have long believed that financial inclusion and digital transformation are inseparable,” Mr. Ampong stated. He described both as central to the bank’s purpose as a pan-African financial institution. He added that the bank has consistently invested in innovation to make a digital, accessible, and borderless banking future a reality.
Ecobank currently serves millions of customers across more than 35 African countries. It does this through one of the continent’s most integrated financial services platforms. The bank's commitment to financial inclusion has been a deliberate strategic priority for many years. This commitment is evidenced by innovations like the Express Account, which allows customers to open bank accounts via mobile phones.
More than 800,000 customers are active users of the Ecobank mobile app in Ghana. This figure reflects growing confidence in digital financial services. It also shows the trust customers place in the bank’s platforms. Innovations like cardless withdrawals using e-tokens across Ecobank’s ATM network further enhance accessibility and security. Customers can also instantly create virtual cards for safer online transactions through the mobile application.
These innovations are not merely designed to digitise banking. They aim to broaden participation in the formal financial system. They provide multiple pathways into the formal financial system. This serves first-time banking customers, digitally active customers, entrepreneurs, and businesses. It enables them to engage more deeply with the opportunities of a modern digital economy.
Mr. Ampong described Ghana’s progress in digital finance and financial inclusion as one of Africa’s strongest success stories. Ecobank is proud to have contributed to this journey. It has worked alongside key stakeholders including the Bank of Ghana, regulators, telecommunications partners, and fintech companies. However, he acknowledged that millions of Africans remain underserved by formal financial services.
Challenges around affordability, digital literacy, trust, and infrastructure continue to exist. Addressing these challenges requires more than technology alone. It requires active collaboration between all partners and open dialogue. The ongoing efforts by institutions like Ecobank, in collaboration with regulators, will be crucial in closing these remaining gaps. This will ensure that digital transformation truly benefits all segments of society.