American Express Credit Cards to be issued in Nigeria

May 09, 2024

• 03 Capital to offer business card with $10,000 monthly credit
• Firm to extend American Express cards in Ghana, Rwanda and Congo

American Express Co. is launching its first business credit card in Nigeria in partnership with local neobank O3 Capital, potentially improving access to dollars in the country. O3 Capital and Amex unveiled the product on Thursday in Lagos, the commercial capital, offering the business card with a spending limit of $10,000 and a repayment period of up to 45 days for international transactions. “The first-ever American Express Business Card in the most populous African country will give us another way to support local businesses with their growth aspirations,” Mohammed Badi, Amex’s President of Global Network Services, said in a statement. “American Express is excited to continue to strengthen its presence in Nigeria and expand its reach across Africa.

Source: Bloomberg