Ecobank, consortium partner to provide SMEs with digital skills and knowledge

AFRICA – Ecobank Group, a pan-African banking group, in partnership with Microsoft, LinkedIn, GitHub and Ecobank Academy is set to provide training to equip Small and Medium-sized Enterprises (SMEs) across sub-Saharan Africa. This training will provide SMEs digital skills and knowledge to succeed in today’s digital world. SMEs have been significantly impacted by the COVID19 pandemic with its attendant lockdowns and disruptions to supply chains, plummeting sales, lost revenue and operational challenges. “The COVID-19 pandemic has turbocharged the shift towards digital. It is essential that businesses adapt so that they…

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Fintech company Semoa, Ecobank to enable mobile money users carry out banking faster and easier

TOGO – Fintech company Semoa has partnered The Ecobank Group to enable mobile money users in Togo to carry out banking faster and easier, across West African Economic and Monetary Union (WAEMU) through a new digital banking service via Whatsapp called “Express cash by Semoa”. The Ecobank Group, whose network covers 35 countries across Africa, is the first bank to integrate this type of service at its ATMs and Express Point Agency locations. Customers simply send a Whatsapp message – which means the service is available 24/7 – to Semoa’s…

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Ecobank Transnational successfully raises US$350m Tier 2 Sustainability Notes

TOGO – Ecobank Transnational Incorporated, the Lomé based parent company of the Ecobank Group, has successfully raised US$350 million Tier 2 Sustainability Notes, representing the first ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa. This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and will be listed on the main market of the London Stock Exchange. The bond, which matures in June 2031, has a call option in June 2026 and was issued with…

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AUDA-NEPAD and Ecobank Group partnership to launch financing component under the 100,000 MSMEs Initiative

AFRICA – The African Union Development Agency NEPAD (AUDA-NEPAD)) and the Ecobank Group, its strategic partner on the development of the 100,000 Micro, Small and Medium Enterprises (MSMEs) Initiative, are set to launch the financing component as from 27 May 2021.AUDA-NEPAD launched the 100,000 MSMEs Programme to accelerate African economic transformation, provide the needed skills, and build resilience against the economic shock triggered by the global Covid-19 pandemic. The ‘100 000 MSMEs’ initiative seeks to build the capacity of 1,000,000 enterprises in Africa through entrepreneurial and business training to improve access…

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Akin Dada appointed as Group Executive, Corporate and Investment Bank for Ecobank

AFRICA – Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group has announced the appointment of Akin Dada as the Group Executive, Corporate and Investment Bank. He joined Ecobank in 2017 as the Executive Director for Corporate Bank in Nigeria, and prior to his new appointment was Group Head, Corporate Banking for the Ecobank Group. Akin has over 30 years of banking experience in client coverage, strategic transaction initiation and advisory dialogues across various client segments, including public sector, telecoms, FMCG and oil and gas. Prior to joining Ecobank,…

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Ecobank appoints Tomisin Fashina as Group Executive for Operations & Technology

AFRICA – Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, has announced the appointment of Tomisin Fashina as its new Group Executive for Operations & Technology, a position he will now hold in addition to his existing role of Managing Director of eProcess International. Dr. Fashina succeeds Eddy Ogbogu as Group Executive, Operations & Technology, following Eddy’s recent retirement after serving the Group for 11 years. Tomisin has over 30 years of experience, predominantly in technology management and financial services. Before joining the Ecobank Group, Tomisin was the…

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Ecobank Nigeria issues US$300m bond with a tenor of five years

NIGERIA – Ecobank Nigeria, a wholly owned subsidiary of Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has successfully priced its US$300 million bond issuance maturing in February 2026, with settlement of the bond to take place on February 16, 2021. The fixed-rate, US dollar-denominated bond, with a tenor of five years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange. It is accompanied by an Issuer Rating of B- from Fitch Rating Agency and S&P. The coupon / yield represents the…

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ETI appoints Hervé S. Assah, as Independent Non-Executive Director from the CEMAC Region

AFRICA – Ecobank Transnational Incorporated (ETI), parent company of the Ecobank Group, announces the co-option to its Board of Directors of Hervé S. Assah, as Independent Non-Executive Director from the CEMAC Region. Hervé S. Assah is a national of Congo Brazzaville with almost four decades’ experience as a senior executive in various fields, including investment and financial advisory, global trade development, public private partnerships in emerging markets, regional development and business strategy amongst others. Assah is Managing Partner of Aequaria Capital, a fund management company focused on growth companies in…

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Distributed Power Africa to light Ecobank branches in Kenya with solar

KENYA – Ecobank has signed an agreement with solar energy company Distributed Power Africa (DPA) to roll out solar power solutions in its seven branches in Kenya. The pan African bank has shifted to solar power in a move to reduce operation costs and ensure reliable power supply. Ecobank joins the growing list of companies seeking reliable and cheaper power supply in what has rattled electricity distributor Kenya Power amid declining revenues. “Our partnership with DPA on solar retrofitting in our branches is in line with our commitment to create…

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Ecobank Nigeria secures US$126m10-Year bilateral subordinated loan for SMEs

NIGERIA – Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has announced that one of its significant subsidiaries, Ecobank Nigeria, secured N50 billion (US$126.72m), 10-Year bilateral subordinated loan. According to a statement signed by Adenike Laoye, Group Head, Corporate Communications, the bilateral funding provides stable medium-term liquidity to the balance sheet of Ecobank Nigeria and positively improved its balance sheet ratios, especially the capital adequacy ratio by circa 300 basis points. The transaction proceeds would be deployed to support Micro, Small and Medium Scale Enterprises and small corporates.…

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