By Alvin Lansana Kargbo
Afrimoney, in partnership with Ecobank Sierra Leone, has officially launched the Afrimoney Prepaid Visa Card, a major digital financial innovation aimed at expanding financial inclusion and accelerating digital transformation in Sierra Leone.
The launch ceremony, held on Monday, 25th May 2026, at the Bintumani Hotel in Aberdeen, Freetown, attracted senior officials from the Bank of Sierra Leone, government representatives, members of the diplomatic corps, financial sector stakeholders, and private sector leaders.
The newly introduced initiative enables users to link their mobile money wallets to a prepaid Visa card, allowing seamless local and international transactions. The card is expected to broaden access to digital financial services, particularly for individuals, small businesses, and underserved communities across the country.
Speaking during the launch, Afrimoney Chief Executive Officer, Martison Obeng-Agyei, highlighted the evolution of financial services globally and within Sierra Leone, emphasizing that financial innovation continues to advance rapidly. He commended the Bank of Sierra Leone for its instrumental role in strengthening financial inclusion through reforms that have supported Visa card usage and mobile money operations nationwide.
Martison Obeng-Agyei noted that Afrimoney has consistently focused on practical innovations designed to meet the realities and everyday needs of Sierra Leoneans. He cited products such as Trust Etsa, which allows customers to borrow electricity credit during emergencies, and Trust Fuel, a service enabling transport operators to access fuel on credit and repay through daily earnings.
According to him, the newly launched Afrimoney-Ecobank Visa Card was specifically designed to bridge the gap between the banked and unbanked population. He explained that the physical card would allow users to conduct online transactions, access ATM services, and make payments through point-of-sale terminals globally.
He further emphasized that mobile money operators and banks should be regarded as strategic partners rather than competitors, underscoring Afrimoney’s pioneering role in introducing wallet-to-bank and bank-to-wallet integration in Sierra Leone. Martison Obeng-Agyei thanked regulators and development partners for their support in advancing financial innovation and encouraged Sierra Leoneans to access the card through Afrimoney’s USSD platform.
Also addressing attendees, the Managing Director of Ecobank Sierra Leone, Sebastian Ashong-Katai, described the partnership as a powerful symbol of innovation, opportunity, and national progress. He stated that customers increasingly demand financial solutions that are simpler, faster, and aligned with evolving lifestyles and modern transaction habits.
Sebastian Ashong-Katai explained that the partnership successfully combines the strengths of mobile money services with traditional banking into a unified financial ecosystem. He observed that while mobile money has transformed daily transactions through convenience and accessibility, traditional banking continues to provide trust, structure, and international financial connectivity.
He highlighted several practical benefits of the prepaid card, noting that small business owners can now transact more efficiently with international suppliers, young professionals can access global digital services, and travelers can make cross-border payments with greater ease. According to him, the initiative goes beyond convenience and directly contributes to strengthening financial inclusion.
The Ecobank Sierra Leone Managing Director also commended Africell Sierra Leone for its collaboration and acknowledged the important role played by regulators in creating an enabling environment through initiatives such as the National Payment Switch. He described the launch as a critical milestone toward building a modern, cash-light digital economy in Sierra Leone.
In his address, the Governor of the Bank of Sierra Leone, Dr. Ibrahim Stevens, described the co-branded prepaid card as a significant milestone in Sierra Leone’s transition toward a digitally enabled and resilient financial system. He said the launch demonstrates the strength of partnership and innovation in expanding access to modern financial services.
Dr. Ibrahim Stevens disclosed that financial inclusion in Sierra Leone has improved considerably over the past decade, rising from less than 20 percent to nearly 40 percent of the population. He further revealed that the National Switch instant payment service recorded more than one million transactions within eighteen months of its launch.
Despite these achievements, the Governor acknowledged that many Sierra Leoneans remain unbanked or underbanked. He maintained that integrating mobile money wallets with traditional banking infrastructure would help close those gaps by improving accessibility, convenience, and participation in the formal digital economy.
Dr. Ibrahim Stevens reaffirmed the commitment of the Bank of Sierra Leone toward transitioning the country into a cash-light economy, stressing that digital payments are safer, more efficient, transparent, and cost-effective compared to cash transactions. He added that innovations such as the Afrimoney-Ecobank Visa Card would strengthen the resilience of the financial system while supporting entrepreneurship, employment creation, and economic growth.
Delivering the keynote address, Chief Minister Dr. David Moinina Sengeh described the launch as a practical example of how technology and governance can work together to improve the lives of ordinary citizens. He emphasized that the initiative is not limited to corporate institutions or government officials but extends to market women, transport operators, small-scale entrepreneurs, and rural communities.
Dr. David Moinina Sengeh highlighted government investments in digital infrastructure, noting that Sierra Leone now enjoys extensive 3G and 4G network coverage across the country, including remote districts. He stated that the regulatory sandbox framework established through the Bank of Sierra Leone has created opportunities for innovators and entrepreneurs to test financial products in real-world environments.
He identified device accessibility as one of the major remaining barriers to digital inclusion and called for stronger collaboration between government institutions and private sector actors to improve access to affordable digital devices.
The Chief Minister further emphasized the concept of “Techquity,” describing it as the use of technology to promote fairness, inclusion, and equal opportunity for all citizens, especially vulnerable and low-income populations. He argued that fintech innovations such as Afrimoney possess the potential to overcome barriers that traditional banking systems have struggled to address.
Using practical examples, Dr. David Moinina Sengeh explained how small traders could utilize the platform to import goods directly from international markets, while transport operators and small businesses could develop digital transaction histories capable of supporting access to loans and other financial opportunities in the future.
He noted that Afrimoney transaction records could help establish verifiable credit profiles for users, enabling financial institutions to assess creditworthiness more effectively. According to him, this development would open new pathways for wealth creation and economic independence for many Sierra Leoneans who have historically lacked access to formal financial services.
The Chief Minister also disclosed that Afrimoney has already processed transactions worth millions of dollars and has supported the delivery of financial assistance to vulnerable populations through partnerships with development institutions. He said the continued expansion of digital financial services directly contributes to poverty reduction and improved livelihoods.
The launch of the Afrimoney Prepaid Visa Card is widely expected to strengthen Sierra Leone’s digital finance ecosystem while accelerating efforts toward building a more inclusive, technology-driven economy.
https://thecalabashnewspaper.com/afrimoney-and-ecobank-unveil-prepaid-visa-card-to-drive-digital-payments-financial-access/
