Togo to launch a mobile bank account, requiring “no administrative procedures”

Finance
Monday, 14 May 2018 17:49
Togo to launch a mobile bank account, requiring “no administrative procedures”

(Togo First) - On May 15, President Faure Gnassingbé is to launch in Angoin, 62km from Lomé, a mobile banking solution, named ECO CCP.

Developed by Togo’s post company (SPT) and mobile operators, Moov and Togocel, ECO CCP is accessible everywhere across the country, via mobile.

It aims first to boost financial inclusion by improving access to digital finance, and secondly to capture non-productive and hoarded savings, especially in rural areas.

ECO CCP will be backed by Flooz and Tmoney, respectively mobile money services of the previously cited operators. No fees is needed for opening or maintaining the account. Also, no administrative formalities is required, unless when transactions exceed CFA200,000.

Once opened, the ECO account is directly linked to the customer’s e-wallet, thus allowing transfers between the two accounts or any other account.

Money saved on an ECO CCP account can generate an interest of up to 2% monthly.

Fiacre E. Kakpo

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

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