IFC exits Ecobank’s shareholding, sells its stake to Arise BV

Banking
Wednesday, 28 August 2019 15:12
IFC exits Ecobank’s shareholding, sells its stake to Arise BV

(Togo First) - The International Finance Corporation has completed the sale of its 14.1% stake in Ecobank Transnational Incorporated (ETI) to Africa-focused Investment Fund Arise BV (“Arise”).

This transaction with ETI will see Arise collaborate with Ecobank to advance financial inclusion on the continent,” commented Deepak Malik, Chief Executive Officer of Arise.

As for the World Bank’s private sector arm, the exit falls in line with its “ordinary asset portfolio rotation.”

Arise BV thus joins in Ecobank’s shareholding the Qatar National Bank, the South African Public Investment Corporation and Nedbank (from South Africa also). This, in a context where the pan-African group tries to regain the trust of its shareholders.

Indeed, this is the second consecutive year where Ecobank has not paid dividends. The group, whose returns remain weak, still recovers from the 2014 drop in oil prices which highly impacted Nigeria, its largest market.

togofirst mobile

 
Sondage
Should we encourage young togolese toward agriculture?
  • 57 Votes
    Yes
    55.88%
  • 25 Votes
    No
    24.51%
  • 20 Votes
    Don't have opinion
    19.61%
← Back
Total 102 Votes

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.