ECOBANK TRANSNATIONAL INCORPORATED Company Profile

ECOBANK TRANSNATIONAL INCORPORATED

Ecobank Transnational Incorporated (ETI), a public limited Liability Company, it was established as a bank holding company in 1985 under a private sector initiative spearheaded by the Federation of West African Chambers of Commerce and Industry with the support of the Economic Community of West African States (ECOWAS). In the early 1980’s foreign and state-owned banks dominated the banking industry in West Africa. Commercial banks in West Africa owned and managed by the African private sector were a rarity. Its founders created ETI with the objective of filling this vacuum.
 
The Federation of West African Chambers of Commerce promoted and initiated a project to create a private, regional banking institution in West Africa. In 1984, Ecopromotions S.A. was incorporated. Its founding shareholders raised seed capital for feasibility studies and the promotional activities leading to the creation of ETI.
 
In October 1985, ETI was incorporated with authorised capital of US$100 million. The initial paid up capital of US$32 million was raised from over 1,500 individuals and institutions from West African countries. The largest shareholder was the ECOWAS Fund for Cooperation, Compensation and Development (ECOWAS Fund), the development finance arm of ECOWAS.
 
Ecobank signed a Headquarters’ Agreement with the Government of Togo in 1985, which granted it the status of an international organization. This status came with the rights and privileges necessary for ETI to operate as a regional institution, including the status of a non-resident financial institution. ETI commenced operations with its first subsidiary in Togo in March 1988.
 
Today, Ecobank is one of the leading pan-African bank with operations in 33 countries across the continent. It has a larger African footprint than any other bank in the world. Ecobank currently operates in countries in West, Central, East and Southern Africa, namely Benin, Burkina Faso, Burundi, Cape Verde, Cameroon, Central African Republic, Chad, Congo Brazzaville, Democratic Republic of Congo, Côte d'Ivoire, Equatorial Guinea, Ethiopia, Gabon, Ghana, The Gambia, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome & Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Group also has a licenced operation in Paris and representative offices in Beijing, Dubai, Johannesburg, London and Luanda.
 
Board of directors
Mr. Alain Nkontchou - Chairman, Non-Executive Director
Mr. Ade Ayeyemi - Group Chief Executive Officer
Mrs. Aichatou Agne Pouye - Non-Executive Director
Mr. Deepak Malik - Non-Executive Director
Dr. George Donkor - Non-Executive Director
Mr. Simon Dornoo - Non-Executive Director
Mr. Brian Kennedy - Non-Executive Director
Dr. Catherine Ngahu - Non-Executive Director
Mr. Mfundo Nkuhlu - Non-Executive Director
Prof. Enase Okonedo - Non-Executive Director
Mr. David O’Sullivan -Non-Executive Director
Ms. Zanele Monnakgotla - Non-Executive Director
Dr. Aasim Ahmad Qureshi - Non-Executive Director
 
AWARD
2020 - Ecobank Group wins the Award; for Innovation in Financial Services from African Banker.