ECOBANK Ghana and GhanaPost have signed a memorandum of understanding (MoU) to turn 100 GhanaPost outlets into ECOBANK Xpress Points and bring banking to the doorstep of many more Ghanaians.
The two have agreed to rollout the strategy in phases, starting with an initial 78 outlets before the additional 22 will come on board. But ultimately, the plan is to turn all 360 GhanaPost outlets across the country into financial service and agency banking hubs to deepen financial inclusion.
At the last count, financial inclusion in Ghana had reached about 68%, leaving a 32% gap to be bridged. The two institutions believe that their collaborative strategy will go a long way in helping to bridge that gap.
As part of the partnership, ECOBANK will advance GHS1 million to GhanaPost to convert their outlets into ECOBANK Xpress Points, where they can offer some eight consumer banking services.
The services include deposits, withdrawals, bills payment, remittance, airtime purchase, interbank transfers, Visa and Master prepaid cards top-up as well as card on POS withdrawals.
ECOBANK will also be working with the commercial department of GhanaPost to run activations at the selected outlets to drive public attention to the new financial services being offered at those outlets.