Ecobank plans USD49m systems development

Africa’s Ecobank Group has signed a USD49 million (€40.7 million) seven-year loan facility to develop its systems and technology infrastructure.

Ecobank said in a statement that it had signed the agreement with French Development Agency’s (AFD) Proparco and BIO, the Belgian Investment Company for Developing Countries.

The facility will be invested in developing its “systems and technology infrastructure” which serves nine million retail, local corporate, public sector and microfinance customers, through 1,180 branches, 1,632 ATMs and 2,744 POSs.

Arnold Ekpe, Ecobank’s Group CEO said: “The investment demonstrates our on-going commitment to enriching Ecobank’s customer experience through investments in systems, technology and processes.”

Incorporated in Lome, Togo, Ecobank Transnational Incorporated is the parent company of the leading independent  pan-African banking group. It currently has a presence in 32 African countries.

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