Ecobank is set for long-term sustainable growth

4904164135 d088b52572 zEcobank Transnational Incorporated (Ecobank), parent of the Ecobank Group, a pan-African bank operating in 36 African countries, is committed to long-term sustainable growth as shareholders approve all resolutions at the 31st Annual General Meeting (AGM) in Lomé, Togo

The resolutions included the ratification of the co-option of Aichatou Agne Pouye, Arunma Oteh and Aasim Ahmad Qureshi as directors.

Pouye and Oteh are independent directors and Qureshi is a Qatar National Bank nominee. Shareholders also voted to renew the three-year term of office of Ade Ayeyemi, Catherine Ngahu and Mfundo Nkuhlu (a Nedbank Group Limited nominee) that had completed their three-year term of office as directors.

Deloitte and Touche, Nigeria, and Grant Thornton, Côte d'Ivoire, were re-appointed as joint auditors for a one-year term.

Emmanuel Ikazoboh, Ecobank group chairman, 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, added, “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 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.

The board also accepted Greg Davis’ resignation as chief financial officer and group executive finance. The board has appointed Ayo Adepoju, vice-president, group finance as acting chief financial officer, in line with the executive succession plan established by ETI.

Ade Ayeyemi, group chief executive officer, said, “The board has every confidence in Ayo Adepoju stepping into his new role and he has our full support.”

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