Afrimoney and Ecobank Sierra Leone have launched a co-branded prepaid visa card aimed at expanding financial inclusion and accelerating digital transformation across Sierra Leone.
The new product allows users to link their mobile money wallets directly to a prepaid Visa card, enabling seamless local and international transactions. Industry leaders say the initiative will help bridge the gap between the banked and unbanked populations while providing greater access to digital financial services for individuals, small businesses, and underserved communities.
Bridging the Financial Inclusion Gap
Speaking at the launching ceremony, Afrimoney’s CEO Martison Obeng-Agyei said the card represents another milestone in the evolution of digital finance in Sierra Leone.
He noted that financial innovation continues to transform how people access and use financial services, both locally and globally. He praised the Bank of Sierra Leone for introducing reforms that have enabled the growth of mobile money services and Visa card adoption in the country.
According to Obeng-Agyei, Afrimoney’s innovation strategy has always focused on developing solutions tailored to the realities of Sierra Leoneans. He cited products such as Trus EDSA, which allows customers to access emergency electricity credit, and Trus Fuel, which enables transport operators to obtain fuel on credit and repay through daily earnings.
“The Afrimoney Ecobank Visa Card was designed to bridge the gap between those with access to traditional banking services and those who remain outside the formal financial system,” he said.
Obeng-Agyei explained that cardholders will be able to conduct online purchases, withdraw funds from ATMs, and make payments at point-of-sale terminals worldwide, adding that banks and mobile money operators should be viewed as partners rather than competitors, while highlighting Afrimoney’s role in pioneering wallet-to-bank and bank-to-wallet integration services in the country.
Building a Connected Financial Ecosystem
Ecobank Sierra Leone Managing Director Sebastian Ashong-Katai described the partnership as a significant step toward creating a more inclusive and connected financial ecosystem.
He said customers increasingly demand financial solutions that are faster, simpler, and better suited to modern lifestyles.
“This partnership combines the accessibility and convenience of mobile money with the security, structure, and global reach of traditional banking,” Ashong-Katai said.
He outlined several benefits of the prepaid card, noting that small business owners will be able to pay international suppliers more easily, and young professionals can subscribe to global digital platforms, while travelers can conduct cross-border transactions with greater convenience.
According to him, the initiative is not merely about convenience but about creating opportunities for wider participation in the formal economy.
Ashong-Katai also commended Africell Sierra Leone and financial regulators for supporting innovation through initiatives such as the National Payment Switch, which he described as critical to building a modern digital economy.
Central Bank Backs Digital Finance Expansion
Governor of the Bank of Sierra Leone, Dr. Ibrahim Stevens, described the product launch as a major milestone in the country’s journey toward a resilient and digitally enabled financial system.
“This launch demonstrates the power of partnership and innovation in expanding access to modern financial services,” he said.
Dr. Stevens revealed that financial inclusion in Sierra Leone has grown significantly over the past decade, rising from less than 20 percent to nearly 40 percent of the population.
He also disclosed that the National Switch instant payment service surpassed one million transactions within just eighteen months of operation.
Despite these gains, the governor acknowledged that a significant portion of the population remains unbanked or underbanked.
He argued that integrating mobile money wallets with banking infrastructure would help close this gap by improving access, convenience, and participation in the formal digital economy.
The governor reiterated the central bank’s commitment to transitioning Sierra Leone toward a cash-light economy, emphasizing that digital payments offer greater efficiency, transparency, security, and cost savings than cash transactions.
He added that innovations such as the Afrimoney-Ecobank Visa card would contribute to entrepreneurship, job creation, and economic growth while strengthening the resilience of the financial sector.
Technology Driving Inclusion
Delivering the keynote address, Chief Minister Dr. David Moinina Sengeh described the launch as an example of how technology and governance can work together to improve people’s lives.
“This innovation is not only for corporate executives or government officials,” he said. “It is for market women, transport operators, small business owners, and people living in rural communities.”
Dr. Sengeh highlighted government investments in digital infrastructure, noting that Sierra Leone now enjoys extensive 3G and 4G network coverage across most parts of the country, including remote districts.
He also pointed to the regulatory sandbox established by the Bank of Sierra Leone, which enables innovators to test new financial products in a controlled environment before full-scale deployment.
While praising the country’s digital progress, the chief minister identified access to affordable digital devices as one of the key barriers to broader digital inclusion and called for stronger collaboration between government and the private sector.
He spoke about the concept of “Techquity” — the use of technology to promote equity and inclusion — arguing that fintech solutions have the potential to overcome barriers that have historically limited access to financial services.
Using practical examples, Dr. Sengeh explained how traders could use digital platforms to import goods directly from international markets, while transport operators and small businesses could build transaction histories that may eventually support access to loans and other financial products.
He further noted that Afrimoney’s digital transaction records could help create verifiable credit profiles, enabling financial institutions to assess creditworthiness more effectively.
According to him, this would open pathways to wealth creation, entrepreneurship, and economic independence for thousands of Sierra Leoneans who have traditionally been excluded from formal financial systems.
He argued that expanding digital financial services contributes directly to poverty reduction, economic empowerment, and improved livelihoods.
“The launch of the Afrimoney Prepaid Visa Card marks another important step in Sierra Leone’s digital finance journey and is expected to strengthen the country’s financial ecosystem while accelerating efforts to build a more inclusive, technology-driven economy,” Dr Sengeh concluded.
