Ecobank Nigeria has launched Smart Small And Medium Enterprise (SME) Agency Banking campaign targeted at empowering 100,000 entrepreneurs under the Ecobank SME and Agency Banking proposition.
The initiative was introduced in line with the bank’s commitment to support the Federal Government and Central Bank of Nigeria’s vision for financial inclusion across the country.
The Head of SME, Ecobank Nigeria, Mr. Emeka Agada, said apart from improving financial inclusion, the new campaign also aims to create self-employment for new entrepreneurs and help diversify income streams of existing small businesses. To this end, Ecobank has made it easy for entrepreneurs and small businesses to become the Bank’s agents under the scheme.
According to him, “This laudable initiative is to empower small businesses and create new entrepreneurs. It is open to every honest and enterprising adult capable of using smart phones and/or Point of Sale (PoS) Machines as well as every small and medium enterprise, subject to their meeting the terms and conditions as set out for agents”. He urged interested SME operators to join the Ecobank Smart SME Agent network and become a mobile financial services provider.
Such Xpresspoint agents can perform basic banking services such as account opening, deposit collection for Ecobank, interbank transfers to other banks, card and card-less withdrawals, bill payment, airtime top-up and remittance services. Agada said Agents will earn money through-fees and commission on all successful transactions done through the agency. Ecobank will also train the agents and provide branding materials free.
Speaking on the same scheme, Mrs. Nike Kolawole, Head of Ecobank Agency Network explained that the Ecobank Agency proposition remained the best in the industry today. She encouraged small businesses to partner with the bank to drive financial inclusion and employment.
Mrs. Kolawole emphasized that, “banking has greatly evolved and has become closer to the people. With the introduction of Agency banking, no one needs to visit a bank branch to carry out a transaction. With your phone, you can perform your own transaction or perform transactions for other people on behalf of the bank and earn commissions”.
She encouraged youths and owners of small businesses to take advantage of the Ecobank initiative to expand their revenue streams.
