Financial Inclusion: Ecobank Togo, La Poste Launch Two New Products

Finance

Friday, 08 August 2025 12:32

Financial Inclusion: Ecobank Togo, La Poste Launch Two New Products

(Togo First) - In Togo, where many rural communities still lack access to banking, Ecobank and Société des Postes du Togo (La Poste) have joined forces to expand financial inclusion.

The two institutions unveiled their partnership on August 7, in Lomé. They launched two products: the Eco+ prepaid card and the Point Xpress money transfer service. La Poste developed the Eco+ card with Ecobank’s technical support, while Point Xpress now operates in postal branches nationwide.

The Eco+ prepaid card, powered by Visa, lets anyone—banked or unbanked—withdraw cash, pay bills, and shop online or in stores. Customers can get the card at any La Poste branch.

Point Xpress transforms post office counters into Ecobank transaction points, making it easier for people to send and receive money anywhere in the country. Ecobank gains from La Poste’s vast branch network, while La Poste benefits from Ecobank’s banking technology.

“What we are launching today is not just a card or a service. It’s a new way of thinking about banking,” said Ecobank Togo’s Personal Banking Director, representing the subsidiary’s Managing Director. “We are bringing the bank closer to the communities, even the most remote.”

With 80 offices across Togo, La Poste acts as a bridge between modern banking and local communities. For Awata Dissima, Product Manager at La Poste, the partnership reflects “a shared vision between two solid institutions: a pan-African bank focused on the modernisation of finance, and a public company rooted in the territories.”

This alliance could accelerate Togo’s progress in financial inclusion, especially in regions underserved by traditional banks. Between 2014 and 2021, Togo achieved the fastest growth in the West African Economic and Monetary Union (WAEMU), raising its inclusion rate from 57.7% to 85.72%.

Ayi Renaud Dossavi

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.