Ecobank and Vivo Energy Sign Agency Partnership Agreement

Ecobank Ghana and Vivo Energy Ghana have signed an Agency Banking Partnership Agreement that will enable Vivo Energy Ghana to market selected products of Ecobank at Shell service stations.

The two institutions also launched the Ecobank Xpress Point at the Haatso Shell Fuel service station in Accra. Starting with 16 stations in Accra, the Xpress Point service will be rolled out in over 200 Shell service stations across the country in the coming weeks.

The Ecobank Xpress Points will offer services, including cash deposits and withdrawals on Xpress accounts, current accounts and savings accounts, Redeeming of e-tokens and Cash Xpress – Prepaid Card Issuance.

Other services are Remittances (Rapid Transfer, Western Union, Ria, Money Gram, Vigo, Unity Link) and opening of savings accounts.

Following the signing of this partnership agreement, customers can now use the services available at any of the Shell Xpress Points, providing great gains to Ghanaians with respect to financial freedom and financial literacy, deepening financial inclusion and reducing the cost to serve.

Speaking at the launch, Mr Morgan Fianko Asiedu, an Executive Director of Ecobank, said: “The launch of the Xpress Point in Ghana forms part of the bank’s agenda to empower the over 70 per cent of Ghanaians, who currently are unbanked or underserved.

Xpress Point, therefore, readily affords Ecobank the opportunity to reach a large customer base in all regions of Ghana. At the same time, the partnership will enable Vivo Energy, dealers in fuel, lubricants, auto care services and groceries to become an Xpress Point Agent, dealing in financial services”.

”Ecobank will continue to employ technology and partnerships to provide exciting financial products for all Ghanaians. This way, we are certain that retailers, small and medium-sized enterprise businesses will discover new opportunities for making incomes and reducing inefficiencies in their operations”, he concluded.

He said the bank has so far signed over 1,400 Xpress Point Agents across the country, and is working to increase this number substantially by December 2018.

On his part, the Managing Director of Vivo Energy Ghana, Mr. Ebenezer Faulkner said the company’s partnership with Ecobank Ghana, marks another milestone in the history of the business, as the first oil marketing company to introduce agency banking at its retail outlets.

 According to him, all these improvements are aimed at ensuring that customers enjoy the best experience when they visit Shell service stations.

“This partnership is a demonstration of our commitment to be innovative by enhancing our facilities and adapting our retail offer to reflect the evolving needs of our cherished customers. We will continue to lead the market by being the first to introduce new products and services in the industry”, he said.

Credit: GNA