Ecobank shareholders approve 30th AGM resolutions

BH24 Reporter
HARARE – Ecobank Transnational Incorporated, the parent of the Ecobank Zimbabwe, saw its shareholders approve all the resolutions of the financial services firm’s 30th annual general meeting (AGM).

The Pan-African bank, which has operations in 36 countries across the continent, concluded its 30th Annual General Meeting in Lomé, Togo, recently.

Shareholders welcomed Ecobank’s return to profit for the year to 31 December 2017 as they approved all the resolutions at the AGM, which included the ratification of the co-option of Messrs Monish Dutt, Brian Kennedy and David O’Sullivan as Directors.

They are nominees of the International Finance Corporation, Nedbank Group and Qatar National Bank respectively.

The firms Deloitte and Touche, Nigeria and Grant Thornton Côte d’Ivoire were re-appointed as Joint Auditors for a one-year term.

Ecobank group chairman Emmanuel Ikazoboh said:

“Ecobank enjoyed a return to profitability in 2017 as the strengthening of underwriting and risk management processes began to address our legacy credit issues.

“There were substantial improvements in the financial performance of our Consumer Bank and Corporate and Investment Bank divisions and the Board is confident that the foundations are now in place to enable the sustainable growth that will create shareholder value throughout Ecobank.”

Group chief executive Ade Ayeyemi also weighed in:

“Our digitisation strategy is rapidly yielding results that are putting Ecobank firmly on its path to becoming the digital bank of choice across its pan-African territories.

“Additionally, having ‘right-sized’ the business and ‘fixed the basics’, Ecobank is leveraging its inherent strengths as middle Africa’s leading financial platform to the benefit of all its stakeholders as a strong and sustainable bank as it promotes economic development and financial integration across the African continent.”

The Ecobank Group has a presence in Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d’Ivoire, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe.