Ecobank Group secures €40.7m loan to upgrade infrastructure
ECOBANK Group has signed a seven 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 Group announced on Tuesday.
“The €40.7 million facility 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 Point of Sales,” Ecobank said in a press statement.
“The investment demonstrates our on-going commitment to enriching Ecobank’s customer experience through investments in systems, technology and processes,” Ecobank’s Group Chief Executive Officer, Arnold Ekpe noted.
Ecobank is the leading independent pan-African banking group with presence in 32 African countries, including Rwanda. It is also represented in France through its affiliate EBI S.A, and representative office in Dubai, United Arab Emirates and London.