By Joy Bangura
Ecobank Sierra Leone has launched a Business Prepaid Card, a payment solution aimed at helping companies manage corporate expenses more efficiently and securely.
The bank said the card is designed for sole proprietors, small and medium-sized enterprises (SMEs), corporate organisations and international institutions, allowing businesses to preload funds for employees, suppliers and operational expenses without requiring a credit facility or direct linkage to a bank account.
According to the bank, the prepaid card enables businesses to allocate spending limits to employees or departments, allowing organisations to better control travel expenses, per diem payments, procurement and supplier transactions.
Ecobank said the initiative forms part of its broader efforts to expand digital financial services and reduce reliance on cash transactions in Sierra Leone’s business sector.
The Business Prepaid Card can be issued instantly at Ecobank branches across the country and supports contactless payments through Near Field Communication (NFC) technology.
The card can also be used globally on Visa-enabled payment channels, including automated teller machines (ATMs), point-of-sale (POS) terminals and online platforms.
Businesses can reload funds onto the card and manage spending limits according to operational requirements, while transactions can be monitored through Ecobank’s digital banking platforms.
Funds can be loaded through multiple channels including the Ecobank Omni platform, the Ecobank Mobile App, Xpress Points agents and Ecobank branches nationwide, the bank said.
Companies seeking to obtain the prepaid card are required to submit a formal request letter or application form along with valid identification and a passport-sized photograph.
Once approved, the card can be issued and activated for immediate use.
Kate Thompson, Head of Consumer Banking at Ecobank Sierra Leone, said the product was developed to give businesses greater flexibility and control over financial management.
“This card is more than a payment tool. It gives businesses greater freedom and control over their corporate finances while improving transparency and accountability,” Thompson said.
Ecobank said the introduction of the Business Prepaid Card aligns with Sierra Leone’s broader efforts to expand financial inclusion and digital payment systems, particularly for businesses seeking safer alternatives to cash transactions.
Ecobank Sierra Leone is part of the Ecobank Group, a pan-African banking group operating in 33 sub-Saharan African countries, with international offices in France, the United Kingdom, the United Arab Emirates and China.
The bank provides services across consumer, commercial, corporate and investment banking, supported by digital banking platforms and a physical network that includes seven branches, 31 ATMs and more than 210 Xpress Points agents nationwide.
