MONROVIA – The management of Ecobank Liberia has launched the country’s first credit card on Wednesday. The card, which was launched on May 29 at a local resort in Monrovia, will offer various benefits and features to customers. These include the ability to make purchases online and in-store, access to a wide range of rewards and discounts, and the ability to withdraw cash from ATMs.
In his welcome remarks, Dr. Edward Narty Botchway, Managing Director of Ecobank Liberia, emphasized the bank’s commitment to providing innovative and convenient financial solutions to their customers.
“This evening marks an important milestone in our journey towards transforming into the bank we all aspire to be. This product is long overdue and a testament to the hard work of our staff,” Botchway said. He added that this credit card is the first of many new products aimed at enhancing customer convenience and financial independence. Botchway highlighted that the new credit card is a testament to the hard work and dedication of Ecobank’s staff, reflecting the bank’s ongoing commitment to innovative and convenient financial solutions.
He outlined the practical benefits of the new credit card. Customers can make purchases and withdraw cash independently, offering a critical financial tool for times when additional funds are needed. Botchway encouraged everyone to consider obtaining a credit card, noting its utility and the confidence it provides in managing personal finances.
Cllr. Negbalee Warner, Chairman of the Board of Directors of Ecobank Liberia, praised the launch, describing it as a significant achievement for the bank.
He emphasized the credit card’s potential to meet individual and business needs while contributing positively to the national economy.
Warner positioned Ecobank as a customer-centric institution focused on providing convenient payment solutions and leading the market in digital financial products.
He described Ecobank as a customer-centric bank dedicated to providing convenient payment solutions. Warner noted that the bank’s digital products and services are designed to enhance financial transactions and support economic growth in Liberia.
Dr. Musa Dukuly, Deputy Governor for Economic Policy at the Central Bank of Liberia, delivered the keynote address, expressing his enthusiasm for the new product. He highlighted the launch’s implications for financial inclusion and efficiency in Liberia. Dr. Dukuly noted that financial inclusion in Liberia has improved significantly, with the inclusion rate now at 36%, far surpassing the initial target of 15%.
He emphasized that the new credit card supports the global shift towards cashless transactions, which enhances financial efficiency and promotes economic growth.
“The introduction of Ecobank’s credit card is expected to have a positive impact on Liberia’s economy by providing individuals with access to credit and facilitating easier transactions,” he said. “This move aligns with the broader goal of creating a more inclusive and efficient financial system in Liberia.”
Dr. Dukuly reaffirmed the Central Bank’s commitment to supporting financial sector innovations that are crucial for economic stability and growth. He praised Ecobank for its leadership in digital financial services and encouraged other institutions to adopt similar innovations.
Meanwhile, the launch of Ecobank Liberia’s credit card marks a significant advancement in the country’s financial services sector. It demonstrates Ecobank’s dedication to innovation and customer convenience, while also contributing to the broader goal of economic growth and financial inclusion in Liberia.
