OLA Energy has signed an agreement with Ecobank that expands its partnership with the pan-African banking group to provide innovative digital financial services at service stations across Africa.
Through the existing partnership OLA Energy has already deployed point of sales terminals throughout its retail network across African affiliates to host smart card and fuel card solutions along with other payment applications. Within this new agreement, OLA Energy’s customers and dealers will be able to access a variety of Ecobank digital financial services, including the mobile payment solution EcobankPay, the acceptance of several credit cards for merchant payments, distribution of remittance products like Rapid Transfer and Western Union as well as Cash-in-cash-out services for Ecobank account holders.
Customers will also be able to make instant transfers, pay their bills, top up their airtime and withdraw cash from ATM’s across the OLA energy network. The expanded offering is part of wider efforts by OLA Energy to provide a comprehensive service to its consumers in the continent, including fuel card services like the OLA Energy “O’Card” and convenience shopping through the newly created “marhaba” brand.
The partnership will initially be offered in at least 10 service stations in Côte d’Ivoire, Senegal and Kenya respectively before being rolled out to other OLA affiliates in Africa.
Quote from OLA Energy: “This expanded partnership with Ecobank demonstrates our strong commitment to maximizing the use of digital financial services for our customers, dealers and the public at large. This latest agreement builds on efforts by OLA Energy to explore opportunities for cross-selling partnerships and promotions across our African energy network.”
Quote from Ecobank: “As a Super-agent of Ecobank, OLA Energy has again shown that it is at the forefront of providing its African energy network’s customers with innovative and easier ways to transact. Through this partnership, we are pleased to provide OLA Energy’s customers and dealers with a comprehensive suite of Ecobank’s digital financial services, utilising our scalable pan-African digital ecosystem. This is another impactful example of Ecobank leveraging on its technology investments and appropriate partnerships to deliver convenient solutions and services. We’re committed to making the day-to-day life of Africans easier and further cementing Ecobank’s positioning at the cutting edge of trade, payments, remittances and financial inclusion.”
About OLA Energy
OLA Energy is one of Africa’s leading petroleum distribution and marketing companies, with more than 1,200 service stations visited by as many as 250,000 customers per day in 17 countries. It operates 60 fuel terminals in more than 50 airports throughout the African continent. OLA Energy employs more than 1,500 people and its operations generate 20,000 indirect jobs.
About Ecobank
Ecobank Transnational Incorporated (‘ETI’) is the parent company of the Ecobank Group, the leading independent pan-African banking group. The Ecobank Group employs over 14,000 people and serves 29 million customers in the consumer, commercial and corporate banking sectors across 33 African countries. The Group has a banking licence in France and representative offices in Addis Ababa, Ethiopia; Johannesburg, South Africa; Beijing, China; London, the UK and Dubai, the United Arab Emirates. The Group offers a full suite of banking products, services and solutions including bank and deposit accounts, loans, cash management, advisory, trade, securities, wealth and asset management. ETI is listed on the Nigerian Stock Exchanges in Lagos, the Ghana Stock Exchange in Accra, and the Bourse Régionale des Valeurs Mobilières in Abidjan. For further information please visit www.ecobank.com