Shareholders hear Ecobank set for long-term sustainable growth
Ecobank Transnational Incorporated (“Ecobank”), parent of the Ecobank Group, the leading pan-African bank with operations in 36 countries across the continent, concluded its 31st Annual General Meeting in Lomé, Togo, today.
Ecobank Group Chairman Emmanuel Ikazoboh said: “Over the last few years we have taken strong measures to ‘Secure the Foundations’ of Ecobank and the Board is confident that our strategy, and the actions that we have taken so far, have positioned the company for sustainable future growth with a return on equity above the cost of equity.”
Ade Ayeyemi, Group Chief Executive of Ecobank Group, said: “It is the long-term financial success of the company that remains paramount. As such, we will continue to build on and enhance the technology platforms that enable us to engage with more customers and partners and deploy a robust digital communications strategy. The traditional bank model that we all know is rapidly changing with technology and we must continue to position ourselves effectively to succeed in this technological journey of transformation.”
The 31st AGM also provided a platform for the bank to demonstrate its commitment to promoting positive environmental and social change, with the launch of the Ecobank Group Chairman Sustainability Award, which encourages all Ecobank affiliates and employees to develop sustainable projects and transactions that will have beneficial impacts on issues such as health, education, financial inclusion.
Shareholders welcomed Ecobank’s profit for the year to 31 December 2018 as they approved all the resolutions at the AGM, which included the ratification of the co-option of Mrs. Aichatou Agne Pouye, Ms. Arunma Oteh and Dr. Aasim Ahmad Qureshi as Directors. Mrs. Pouye and Ms. Oteh are Independent Directors and Dr. Qureshi is a nominee of Qatar National Bank. Shareholders also voted to renew the mandates for three years of Mr. Ade Ayeyemi, Dr. Catherine Ngahu and Mr. Mfundo Nkuhlu (a nominee of Nedbank Group Limited) who had completed their three-year terms of office as Directors.
The firms Deloitte & Touche, Nigeria, and Grant Thornton, Côte d’Ivoire, were re-appointed as Joint Auditors for a one-year term.