Ecobank Signs N7.8bn loan facility

Ecobank Transnational Incorporated said it had signed a N7.8 billion (40.7 million euro) 7-year loan facility agreement with PROPARCO, the Development Financial Institution arm of the French Development Agency (AFD) and BIO, the Belgian Investment Company for Developing Countries.

The loan will be invested in developing Ecobank’s systems and technology infrastructure, which serves 9 million retail, local corporate, public sector and microfinance customers, through 1,180 branches, 1,632 ATMs and 2,744 POSs.

Commenting on the facility agreement, 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.”

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