Trade facilitation on the continent has received a major boost with the rolling out of the Ecobank Mobile App.
The development will provide instant payment for goods and services from all the 33 countries Ecobank operates. It is aimed at minimizing the transfer of cash across borders for trade purposes.
Speaking to Starr Business at the launch of the App in Ghana, the Group CEO of Ecobank Transnational Incorporated, Ade Ayeyemi, said even though there are a lot of barriers that inhibit trade on the continent the App will help alleviate the plight of traders.
“There are a lot of things that we need to deal with; but part of the barriers is for the traders to carry the cash around and the security issues that affect the carrying of cash.
“And the issue that trust; people don’t want to send their goods because they have not received the cash, people don’t want to carry the cash because they don’t know whether they are going to be robbed on the road, this completely takes care of that,” Mr. Ayeyemi said.
He added: “The transfer is instant, there is no long questioning and it allows people to trust each other again and transferring goods and services to each other because you can pay instantly.”
The Finance Minister, Seth Terkper, who graced the launch, lauded the bank’s initiative, saying the move syncs with the banks goals.
“We believe that this is consistent with your goal of promoting Intra Africa Trade and global trade.”
He believes that the move has given mobile phone users the opportunity to add more value to its usage.
Source: Ghana/starrfmonline.com/103.5FM/Osei Owusu Amankwaah