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Ecobank Zambia has been recognized for its corporate social investments in Zambia at the CSR Network Awards held on 29 th November 2019. The award was given in appreciation of the commendable efforts that the Bank has done in championing corporate social responsibility in Zambia. Ecobank has always taken a lead in supporting sustainability and providing support to various communities in Zambia and across Africa. Sustainability is at the core of Ecobank’s mission and vision of building a world-class pan-African bank that contributes to the integration and socio-economic development of Africa. The bank firmly believes that its success is intertwined with the sustainable development of the economies, societies and environment that it operates in. Ecobank’s Corporate Social Responsibility mainly focuses on four pillars namely Education, Environment, Health and People. Some of the programmes that the Bank has supported in Zambia Education Ecobank Scholarships - The scholarships cover tuition and exam fees from secondary education until university for three vulnerable but high achieving girls. The scholarships were given in order to address the challenges of inequalities in education faced by girls. Environment Fruit Tree Planting Initiative - The Bank planted 2,500 fruit trees in 50 schools across the country under a project dubbed 50-5-50 Initiative. The Bank shares the view that fruits should not be difficult to access and most importantly for the children in schools. The Bank understands the importance of maintaining a clean and green environment. It is for this reason that Ecobank has inculcated the culture of tree planting by school children because they are the future who will also pass it on to future generations. Health As a responsible and caring corporate citizen, having noted the need for a shelter for care givers at the Cancer Diseases Hospital, Ecobank Zambia has pledged to construct a shelter at a cost of K220,000 to mark the 2019 Ecobank Day. The objective is to raise awareness and help prevent Non-Communicable diseases which so tragically kill tens of thousands of Zambians every year. People Graduate Trainee Program – Ecobank has invested in exciting Graduate Trainee programs which aim to empower Zambian youths with industry experience. This is in order to address the challenges that fresh graduates are faced with regarding employment opportunities as some employers request for industry experience. Kola Adeleke, Managing Director of Ecobank Zambia, said the award served as testimony of Ecobank’s commitment in serving the community. “Ecobank is committed to taking bold steps in supporting local communities in terms of our social and environmental obligations and we grasp these wholeheartedly. We know that we must give back to our communities, to society and to the environment and this is a core tenet of our culture. We know that it requires actions, not just words, to fully meet our responsibilities.” Mr. Adeleke said. Picture: Ecobank Zambia Country Risk Manager Mr. Gabriel Mwami (left) receiving the CSR award from the Ministry of Commerce, Trade and Industry Director Mr. Shaderick Mungalaba
Ecobank Zambia was awarded 2nd Prize in the Service of the Year, Large Enterprises category, by the Zambia Bureau of Standards at the Zambia Annual Quality Awards ceremony held on 15th November 2019 at Radisson Blu Hotel. This was given in recognition of customer service excellence. The pan-African bank has won service quality awards consistently over the last three years. To ensure that customers are served better, the Bank recently upgraded its Core Banking Application, Flexcube. With the upgrade, processes and services are more robust aimed at ensuring that varied customer needs are met efficiently. Kola Adeleke, Managing Director of Ecobank Zambia, said the award goes to validate the positive impact of the Ecobank digital strategy. “We are using digital technology to financially-include many Zambians into formal financial systems. The fact that individuals can open your Xpress account instantly and do instant transfers and bill payments across Africa on our mobile app is what makes our value proposition to customers quite unique. That our Corporate Clients are able to seamlessly interact with the Bank and do their banking transactions through our Ecobank OMNI platform has further endeared the bank to notable Global Corporates, Regional Corporates, Financial Institutions, International Organisations, Local Corporates and SME names. This award therefore confirms that we are indeed making banking easier, more accessible and more affordable across the continent than ever before. It is a proof that we continue to provide convenient, relevant and reliable banking solutions to our clients, year after year.” Picture: Ecobank Zambia Client Engagement Manager, Mwangala Mukumbi (left) and Ecobank Zambia Country Risk Manager, Gabriel Mwami (right) receiving the award from the Minister of Transport and Communication, Hon. Mutotwe Kafwaya MP (Centre).
Ecobank celebrated its 10 th anniversary in Zambia on 3 rd October 2019 at Taj Pamodzi Hotel in Lusaka. The anniversary celebration dinner was attended by over 500 distinguished guests who comprised of key stakeholders including senior government officials, regulators, customers, board of Directors, members of staff and the media. Speaking during the event, Bank of Zambia Governor, Dr. Denny Kalyalya congratulated Ecobank Zambia on its 10 th anniversary. The Governor noted many achievements that Ecobank has accomplished over the years. “We are aware of the Bank’s global vision, which is anchored on achieving financial inclusion for Pan Africa as a whole and your goal to reach 100 million customers in Zambia and across Africa. At the core of this vision, is the importance of understanding and satisfying customer needs. In this context we appreciate and commend Ecobank Zambia for rolling out 7,000 Xpress Points through its partnership with Kazang here in Zambia. These Xpress Points have brought financial services closer to the people. This is in line with Bank of Zambia and Government financial inclusion agenda,” Dr. Kalyalya said. Ecobank Zambia Managing Director, Kola Adeleke thanked customers for their loyalty and support over the years. “We are thankful for the patronage of our various customers and affirm our commitment to continue to support critical sectors of the economy. We will also continue to leverage on the power of our digital platforms to deliver services to our customers and government in a convenient, accessible and reliable manner,” Mr. Adeleke said. In her closing remarks, Ecobank Zambia Board Chairman, Ms. Chileshe Kapwepwe said Ecobank Zambia had pledged to construct a shelter at the Cancer Diseases Hospital to mark the 2019 Ecobank Day. “As a responsible and caring corporate citizen, having noted the need for a shelter for care givers at the Cancer Diseases Hospital, I am pleased to announce that Ecobank Zambia pledge to construct a shelter at a cost of K220,000 to mark the 2019 Ecobank Day. The objective is to raise awareness and help prevent Non-Communicable diseases which so tragically kill tens of thousands of Zambians every year,” Ms. Chileshe Kapwepwe said. Awards were presented to customers who have been banking with Ecobank for 10 years in recognition and appreciation for their loyalty. Employees who have worked for Ecobank for 10 years were also awarded for their dedicated service to the Bank. Earlier during the same week, Ecobank Zambia paid a courtesy on Dr. Kenneth Kaunda, Zambia’s first Republican President and liberation hero. This was in recognition and appreciation of Dr. Kaunda’s great contribution to the liberation of many African countries. Ecobank Zambia Managing Director, Mr. Kola Adeleke said that Dr. Kaunda’s achievements on Pan Africanism ideologies are in line with Ecobank’s vision of building a world-class Pan African Bank and contributing to the economic development and financial integration of Africa.
This week members of the Ecobank Zambia paid a courtesy call to Dr. Kenneth Kaunda as it celebrates its 10th anniversary. This was a key part of Ecobank's 10th anniversary celebrations because Dr. Kenneth Kaunda, Zambia's first Republican President and liberation hero, is recognised and appreciated as a great contributor to the liberation of many African countries. Dr Kaunda's achievements and ideologies are very much in line with Ecobank's vision of building a world-class Pan African Bank and contributing to the economic development and financial integration of Africa. Africa is our own motherland. Fashioned with and blessed by God's good hand. Let us, all her people, join as one, Brothers under the sun. All one strong and free. Ecobank Zambia Managing Director, Kola Adeleke is pictured below with members of the Ecobank team.
Ecobank Zambia has announced ambitious plans to expand its network of third party agency partners with Kazang to ensure its banking services reach more currently under served locations. Ecobank has entered a distribution agreement with Kazang, extending Ecobank Xpress Point locations from 200 to 7,000 Kazang outlets throughout Zambia. Kazang authorized agents will offer a number of banking services including: Cash-in deposits on Xpress, current, and savings accounts Cash-out withdrawals from Xpress and current accounts, and using Xpress Cash tokens Send and receive money “To deliver on our strategy of reaching 100 million customers group-wide, we have created innovative new digital banking platforms, products and services,” said Kola Adeleke, Managing Director of Ecobank Zambia. “Introducing Ecobank Xpress Points at Kazang Agents will allow us to bring our banking services closer to our customers by providing them with convenient, accessible and efficient banking channels in their localities. This is crucial to our goal of financial inclusion as it makes banking services quickly and easily available to those in underserved locations.” Adeleke said. Ecobank Xpress Point agents will support some of the services that Ecobank has brought to market, designed to meet customers at their points of need in areas with low banking density and large unbanked and underbanked populations. Speaking during a Media briefing at the Ecobank Head Office, Kazang Chairman Mr. Rocky Sombe said the partnership with Ecobank will increase access points for financial services thereby increasing financial inclusion. He said that the partnership will provide cheaper alternative financial services away from the traditional brick and Mortar. “This option is better than ATMs which require massive investment, high running costs and high literacy levels. This partnership will enable people in far flung areas of Zambia access financial services without having to travel long distances and also to obtain affordable banking services outside the normal banking hours” Sombe said.
On the 20th August, 2019, Ecobank Zambia received USD 15 million from its parent company Ecobank Transnational Incorporated (ETI). This is part of a syndicated loan facility of USD200 million arranged by the Netherlands Development Finance Company (FMO) with other Development Finance Institutions (DFIs) in support of Ecobank Group’s strategic development objectives for the pan-African Ecobank Group across its network of 36 African Countries. The proceeds of the loan are to be directed towards SME’s across various sectors of the economy. Kola Adeleke (pictured below), Ecobank Zambia Managing Director said: “The USD15 Million investment by FMO into Ecobank demonstrates international investors’ approval and confidence in Ecobank’s strategy and prospects as a strong and sustainable pan-African financial services institution. It also demonstrates the ability of African corporates to access international capital markets.” Ecobank Zambia will use this investment to give out loans to deserving small and medium entrepreneurs in Zambia to help boost their businesses and contribute towards the economic development of Zambia. “Ecobank Zambia will continue to position itself as a key partner in SME development in Zambia. Although SMEs provide the majority of jobs, their access to finance remains limited. We believe that supporting SMEs will help stimulate economic growth due to the sector’s contribution towards the Gross Domestic Product and employment creation” Adeleke said.
Move Money from your Ecobank Zambia account to any MTN Mobile Money account using the Ecobank Mobile App. Its simple, follow these steps and move money! 1. Open your Ecobank Mobile App and select Mobile Money and follow prompts. 2. Select account you want to move money from 3. Select network *Currently only available for MTN Mobile Money* 4. Select other number 5. Select mobile number 6. Enter amount and name of beneficiary 7. Confirm with your pin
Following its successful $500 million Eurobond issuance on 7th June 2019, Ecobank Transnational Incorporated (‘ETI’), the Lomé-based parent company of the Ecobank Group, was hosted by the London Stock Exchange to a market opening ceremony to celebrate the successful listing of the Eurobond on the London Stock Exchange (LSE) main market. The bond was oversubscribed with strong demand from international investors in the United Kingdom, United States, Europe, Middle East, Asia and Africa. It follows on from Ecobank’s 2017 convertible bond issuance on the International Securities Market. The five-year senior unsecured notes, which mature in April 2024, were launched with a coupon interest rate of 9.50 percent per annum payable semi-annually in arrears. Ade Ayeyemi, Group CEO of Ecobank said: “The successful issuance of our inaugural Eurobond on the main London market demonstrates international investors’ approval and confidence in Ecobank’s long-term strategy and prospects as a strong and sustainable pan-African financial services institution. It also demonstrates the ability of African corporates to access international capital markets.” Ayo Adepoju, Acting Group CFO of Ecobank commented: “Ecobank places great emphasis on constantly reviewing our capital allocation strategies to ensure that we have the right strategic positioning, competitive advantages, products and resources to increase efficiency and profitability. Our access to international capital markets are part of the mix and enable us to boost our liquidity profile, refinance maturing facilities and strengthen our foundations to ensure long-term sustainable growth and profitability for all our stakeholders.” ETI will use the net proceeds of the placement for general corporate purposes including the refinancing of maturing debt facilities. Members of the ETI board and management attended the London Stock Exchange on 7 June to celebrate the successful issuance of the bond. Below, Ecobank Chairman Emmanuel Ikazoboh (2nd from left) opens the London Stock Exchange with Group CEO Ade Ayeyemi (3rd from left).
Following its successful $500 million Eurobond issuance on 7th June 2019, Ecobank Transnational Incorporated (‘ETI’), the Lomé-based parent company of the Ecobank Group, was hosted by the London Stock Exchange to a market opening ceremony to celebrate the successful listing of the Eurobond on the London Stock Exchange (LSE) main market. The bond was oversubscribed with strong demand from international investors in the United Kingdom, United States, Europe, Middle East, Asia and Africa. It follows on from Ecobank’s 2017 convertible bond issuance on the International Securities Market. The five-year senior unsecured notes, which mature in April 2024, were launched with a coupon interest rate of 9.50 percent per annum payable semi-annually in arrears. Ade Ayeyemi, Group CEO of Ecobank said: “The successful issuance of our inaugural Eurobond on the main London market demonstrates international investors’ approval and confidence in Ecobank’s long-term strategy and prospects as a strong and sustainable pan-African financial services institution. It also demonstrates the ability of African corporates to access international capital markets.” Ayo Adepoju, Acting Group CFO of Ecobank commented: “Ecobank places great emphasis on constantly reviewing our capital allocation strategies to ensure that we have the right strategic positioning, competitive advantages, products and resources to increase efficiency and profitability. Our access to international capital markets are part of the mix and enable us to boost our liquidity profile, refinance maturing facilities and strengthen our foundations to ensure long-term sustainable growth and profitability for all our stakeholders.” ETI will use the net proceeds of the placement for general corporate purposes including the refinancing of maturing debt facilities. Members of the ETI board and management attended the London Stock Exchange on 7 June to celebrate the successful issuance of the bond.
Rapidtransfer is a safe and secure low-cost remittance solution, which ultimately will put more money into the hands of the recipient. Its standout affordability is a game changer in the way that Africans send money to their loved ones. The Rapidtransfer App can be downloaded in both App & Play stores and setup is easy in less than 5 minutes.
Ecobank has won the Best Remittance Product and Service of the Year by the Asian Banker Excellence in Retail Financial Services Awards for West Africa. Their Rapid Transfer App was selected following a rigorou process that saw the Asian Banker assessing banks and non-bank retail financial services in the Asia Pacific, the Middle East and West Africa. Ecobank was selected from 300 banks and non-bank retail financial services in more than 42 countries. The Excellence in Retail Financial Services programme is cited as one of the most rigorous, prestigious and transparent awards programme for consumer financial services. Through the awards the Asian Banker aims to capture the evolving competitive landscape and recognise outstanding players and initiatives, from which the industry can learn from. Receiving the award on behalf of the Ecobank Group, Executive Director, Commercial Banking, Carol Oyedeji stressed that Ecobank's retail business has witnessed substantial transformation, innovation and growth in all its segments and dimensions – customers, products and channels. Ecobank is now being commonly regarded as digital payment solution bank because of its offerings such as Rapid Transfer, EcobankPay, OMNI and Xpress account, among others. Linus Adaba, Ecobank Group Head, Remittances & Mobile Money, described the awards as a worthy recognition of the Rapid Transfer App which is one of Ecobank’s landmark initiatives designed to enable Africans in the diaspora to send money to their loved ones back home on the continent. “Many Africans work elsewhere in Africa, or further afield in Europe, America and Asia and financially support their relatives back home. “Rapidtransfer is a safe and secure low-cost remittance solution, which ultimately will put more money into the hands of the recipient. This will have a multiplier effect on the African economy by boosting demand and driving business growth. Rapidtransfer removes all of bottlenecks and high cost of sending money back home. Its standout affordability is a game changer in the way that Africans send money to their loved ones. The Rapidtransfer App can be downloaded in both App & Play stores and setup takes less than 5 minutes." Commenting on the award, Ecobank Zambia Managing Director Mr. Kola Adeleke said that Ecobank will continue to leverage on the power of digital platforms to deliver quality services to its customers in a convenient, accessible and reliable manner. Adeleke said, “We are happy to inform you that your friends and relatives in the diaspora can send money back home using Rapidtransfer App for as little as 0% until 30th June 2019”
2,500 fruit trees have been planted by Ecobank in 50 schools across the country through the banks 50-5-50 Initiative. 5 species of fruit trees, Lemon, Orange, Avocado, Guava and Mango were planted in the 50 schools since the project was launched at Lotus Primary School in Lusaka on 5th June 2018. The initiative was part of the World Environment Day commemoration activities which ended on 5th April 2019 at Chipembi Girls Secondary School in Chisamba. Ecobank Zambia Managing Director, Mr. Kola Adeleke said that the Bank was happy to contribute towards the “Plant a Million Initiative” which was launched by President Edgar Lungu in 2018 through this project. He said Ecobank Zambia will continue supporting the efforts of the Government of Zambia in community issues, especially the Health, Education and Environment sectors. Mr Adeleke also said combating climate change and protecting natural resources for future generations is key. This message was echoed by Chief Chamuka VI of the Lenje people of Central Province when he challenged the pupils to each plant at least five fruit trees in their homes so that the benefits of fruit tree planting can be enjoyed by many generations. District Commissioner for Chisamba District Mr. Martin Chowa encouraged the school to look after the trees, saying, “My office will take keen interest in monitoring the growth of all the 50 fruit trees”. Speaking on behalf of the pupils, Chipembi Girls Secondary school Head Girl Natasha Kangwa thanked Ecobank for choosing Chipembi Girls Secondary School to take part in the 50-5-50 Tree Planting Initiative and promised that the pupils will take care of the trees. Ecobank has partnered with the United Nations Environment Programme (UNEP), United Nations Development Programme (UNDP) and Local Governments in 33 countries across Africa where the bank is present to help combat climate change and protect natural resources for future generations by planting trees.
Move money using the Ecobank Mobile App. Its simple, follow these steps and move money! 1. Open your Ecobank Mobile App and select Mobile Money and follow prompts. 2. Select account you want to move money from 3. Select network *Currently only available for MTN Mobile Money* 4. Select other number 5. Select mobile number 6. Enter amount and name of beneficiary 7. Confirm with your pin
The latest version of the Ecobank app is now available on Apple and Android. Download it now to go faster! To take advantage of future improvements, be sure to update the app regularly.
3D Secure offers advanced protection for Ecobank cardholders and makes shopping with cards even safer. 3D Secure is a new authorisation service that uses Verified by VISA to make sure that it's definitely you using your card. 3D Secure currently applies to purchases made with VISA but in future it will apply to both VISA and Mastercard. This automatic service for all cardholders provides proof of your identity where your purchase does not require you to enter your PIN. How 3D secure works When you pay for something online with your card, Ecobank will be alerted to send a One-Time Passcode (OTP) to the mobile number that they have on file for you. You will be able to confirm your identity using the following steps: 1. Enter your card details online to pay for your purchase 2. Check your mobile phone for your OTP 3. Enter the OTP on the authentication screen and click 'submit' 4. Continue with your purchase as normal
It’s easy, convenient and immediate. You can also send money in person at any Ecobank branch or Rapidtransfer agent. With many agents across 33 countries in Africa, money can be collected as soon as possible.
Discover a selection of savings accounts from Ecobank to help you and your family grow your money. Whatever your goals, choose a savings product that's right for you today and tomorrow: Savings Account - Get the most out of your money and save for the future Classic Savings Account - A convenient, reliable and easy way to grow your money and more Student Savings Account - If you're studying, go direct and also save for the things that matter Advantage Savings Account - Make your money go further with investments, insurance or a salary advance Premier Savings Account - Take advantage of a multi-currency savings account with a highly personal touch
Current Accounts Whether you want essentials or extras, Ecobank’s current accounts are right for every moment. This range of accounts is designed to help you manage your finances, and make life easier: Classic Current Account - Keep track of your finances with 24/7 access to your money, including electronic banking Student Current Account - If you're studying, go direct with easy and free digital banking Advantage Current Account - Get ahead with investments, insurance and a salary advance added to your banking Premier Current Account - Take care of your wealth with the highest level of personal service Diaspora Current Account - Manage and move your money more easily while living and working away from home
Enter Ecobank’s Rapidtransfer app. Charges range from 0% to 3% depending on the options the customer selects. It enables Africans wherever they may be to easily and instantly send money to bank accounts, mobile wallets and cash collection in — and across — 33 African countries. Ecobank, the pan-African bank, is harnessing its digital expertise and innovation to bring efficiency and convenience to the international and intra-African remittance markets, while significantly reducing the costs to send funds. Read more on the launch of the Ecobank Rapidtransfer app and the movement of money Africa in the link below.
Ecobank's Pan-African presence currently helps over 2 million low income individuals through its support of micro-finance institutions. Ecobank offer these micro-finance institutions a range of banking services to increase their capacity to grow.
Whether you're buying a new home, or renovating or refinancing the home you live in now, Mortgage Loan is the ideal way to finance it: Repay conveniently over up to 10 years Available for completed buildings only
Visa, the world’s leader in digital payments, has recognised the efforts of 7 commercial banks in Zambia for their contribution to promote the use of digital platforms to enable consumers carry out secure digital transactions. Ecobank received the Visa Innovation Award in recognition of being the first bank in Zambia to implement the Visa on mobile solution to enable mobile payments. The bank award ceremony was held on Friday, 27th July at Bonanza Golf Course in Lusaka.
Ecobank offers you 4 simple ways to send and receive money: Via the Ecobank Mobile app (Ecobank Africa to account or cash) - No forms, no fuss, superfast Via your online bank account Rapidtransfer and Western Union Via online rapidtransfer.ecobank.com At any branch send and receive via Rapidtransfer, Western Union, Moneygram and Ria For more information visit your nearest Ecobank today.
Ecobank Zambia celebrated 2017 Ecobank Day on two separate days for the two regions in which the Bank is present, Lusaka and the Copperbelt provinces. Ecobank Day was celebrated in Kitwe on 9th December 2017 at Kawama Race Course Community School. The School has a population of 1,775 pupils but has had no water for over ten years. Furthermore, the school has no electricity or desks. Ecobank Zambia donated a borehole and water treatment products in its efforts to promote safe water for a healthy life to the school and the entire community of Kawama in Kitwe. Speaking at the handover ceremony, Ecobank Zambia Head of Corporate Bank, Mr. Misheck Mkokweza said “Access to clean water does not only promote a better life but also helps keep children stay in school instead of looking for water, it promotes food security, reduces risk of water borne sickness and diseases to name a few”. The event was officiated by the Kitwe District Commissioner Mr. Binwell Mpundu who thanked Ecobank for supplementing Government’s efforts in providing safe water to communities. He said, “Thank you to Ecobank for this donation as it will go a long way in meeting the water needs of this community. It is my hope that the school administration will take care of this borehole donated by Ecobank to the community so that the future generation can also benefit from it.” Below the Kitwe District Commissioner (left) commissions the borehole while the Ecobank Head of Corporate (Right) and the pupils look on.

News in Zambia by Ecobank Zambia