Ecobank Group secures US$112m credit facility from EIB to support SMEs

AFRICA – Ecobank Group, the pan-African banking group, has signed an agreement for a €100 million (US$112.22m) long-term credit facility over 9 years with the European Investment Bank (EIB) to support the recovery of African SMEs from the COVID-19 pandemic. The facility is split into three regional facilities: West & Central Africa, Eastern Africa, and Southern Africa. Funding will be provided through Ecobank affiliates, for investment projects undertaken by private sector companies. The EIB made the facility available through its COVID-19 Rapid Response Facility, for private sector entities active in…

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Ecobank group launches the 4th edition of its Fintech Challenge

TOGO – The pan-African banking group, Ecobank group, is inviting African Fintech entrepreneurs to join the 4th edition of the Ecobank Fintech Challenge. The Fintech Challenge is in line with the Bank’s commitment to championing digitization by giving innovative African start-ups the opportunity to promote their fintech solutions. The start-ups can potentially partner with Ecobank to scale their solutions across Ecobank’s 33 African markets as well as its international operations in France.  All selected Finalists will be inducted into the Ecobank Fintech Fellowship following the Finals and Awards ceremony slated…

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Ecobank International secures US$50m finance facility from CDC Group to broaden economic opportunities

AFRICA – CDC Group, the UK’s Development Finance Institution and impact investor, has announced a US$50 million trade finance facility for Ecobank International (EBI SA), the France based member of the Ecobank Group. This marks CDC’s first partnership with EBISA with the commitment aimed at providing systemic liquidity to underserved markets and crucial trade finance support to local banks and businesses across Africa. EBI SA, the international subsidiary of Togo-based Ecobank Group, is an ideal partner to boost CDC’s impact across Africa and help strengthen financial support for local banks…

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Ecobank Group records 10% profit in revenue for the first quarter of 2021

AFRICA – Ecobank Transnational Incorporated (ETI) has released its unaudited results for the first quarter (Q1) ended March 31, 2021, showing growth in key performance indicators. The pan-African bank posted revenue of N214.3 billion (US$563.43m), showing an increase of 10 per cent from N194.860 billion (US$512.32m) recorded in the corresponding period of 2020. Operating profit before impairment charges stood at N67 billion (US$176.15m) compared with N48.795 billion (US$128.29m) in 2020, which is 37 per cent higher. The bank increased its impairment charges by 48 per cent from N15.454 billion (US$40.63m)…

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Ecobank Group launches new initiative that targets businesses owned or managed by women

AFRICA – The Ecobank Group, a pan-African banking conglomerate, has officially launched a new initiative that targets businesses owned or managed by women across 33 markets, to contribute to the continent’s economic development and financial integration. The new ‘Ellevate‘ programme equips women with financing, business, and leadership training as well as financial tools and resources for success. This programme is designed to help women reach their full potential by empowering, growing and supporting them with customized financial and value-added solutions. Access to finance, perceptions of creditworthiness, gender discrimination, and violence…

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Ecobank Group and Google partner to deliver digital solutions SMEs customers

TOGO – Ecobank Group, the pan-African Bank, in collaboration with Google is helping to equip African SMEs with the necessary digital skills to navigate the rapidly evolving business world. The aim is to assist African businesses remain relevant and fulfil their potential by embracing digital capabilities.  Ecobank utilizes an eBanking product suite, which, according to a press release, will now integrate with Google functions like Google My Business and Google Ad products.  The suite provides “24/7 access” for customers and will assist with cash management, payment and collection needs that…

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Ecobank Transnational Incorporated announces changes on its Board

AFRICA – Ecobank Transnational Incorporated (ETI), the parent company of Ecobank Group, has announced the appointments of Dr George Agyekum Nana Donkor and Mrs Zanele Monnakgotla as its Non-executive Directors. Dr. Georges Agyekum Nana Donkor has been appointed as a Non-Executive Director to replace Mr. Bashir Mamman Ifo as the representative of Ecowas Bank for Investment & Development (EBID) on the Board of ETI. Dr. Donkor was recently appointed President of EBID following the retirement of his predecessor Mr. Bashir Ifo. Dr. Donkor is a Lawyer, Banker and Marketing Consultant…

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Ecobank Group announces 2020 Edition of Fintech Challenge

AFRICA – Ecobank Group, the pan-African banking group, is inviting African fintech entrepreneurs to enter the 3rd edition of the Ecobank Fintech Challenge. The Fintech Challenge gives African start-ups the opportunity to promote their fintech solutions, and potentially partner with Ecobank to roll-out their solutions across Ecobank’s 33 markets in Africa as well as France. All Finalists will be inducted as Ecobank Fintech Fellows, participate in a business boot camp followed by an Awards and Innovation Fair at the headquarters of the Ecobank Goup in Lomé, Togo in June 2020.…

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