Best bank: Ecobank Sierra Leone
Ecobank Sierra Leone recorded double-digit growth in its commercial banking operations last year, with gross loans to business customers up by 45% to $11.8 million. Customer deposits were up by 3%, reaching $25.7 million.
AfE 2024
Ecobank’s digital platforms also demonstrated impressive growth. Omni Lite, the lender’s digital banking platform for small and medium-sized enterprises, handled transactions worth $47.13 million during the period.
The number of merchants using the bank’s point-of-sale terminals increased by 50%, with total transaction volume up by 45%. The number of merchants accepting the bank’s digital payment collection service, EcobankPay, grew by 65%.
Ecobank’s Xpress Point agency banking service registered a 40.6% growth in agents, which helped the bank increase its foothold in local communities across Sierra Leone.
The Ellevate programme, which supports women-led businesses, extended loans worth $1.8 million and attracted deposits of $2.4