New subsidiary is opened in Mozambique

In April, a new subsidiary is opened in Mozambique increasing Ecobank’s presence to 40 countries worldwide. In April, through a share purchase agreement, ETI acquires a 96% stake in Banco ProCredit, Mozambique. Ecobank opens a world-class digital banking center in Accra, Ghana.

Ecobank expands its presence in East Africa

Ecobank expands its presence in East Africa, commencing banking operations in South Sudan. In October, Ecobank opens its Ethiopian representative office in Addis Ababa. Ecobank’s Paris subsidiary, EBI SA, has its banking license upgraded allowing it to take deposits from corporate, institutional and NGO clients with operations across Africa.

Ecobank Tanzania commences business

Ecobank Tanzania commences business and the Group is now fully present in all the countries of the nascent East Africa Economic Community. Ecobank expands into Zimbabwe, buying Premier Finance Group of Zimbabwe. The group also opens representative offices in Angola and Dubai.

Ecobank Gabon, Zambia and EBI SA in France commence operations.

Ecobank continues its expansion

Ecobank continues its expansion with the opening of new subsidiaries in Malawi, Congo Brazzaville, Kenya, Burundi and DR Congo.

Ecobank continues its expansion

Ecobank continues its expansion with the opening of new subsidiaries in Guinea Bissau, Sao Tomé, Central Africa Republic, Rwanda and Gambia. Ecobank resolved to build a new Head office in Lome, Togo that would be furnished with a state-of-the-art technology, training and conference centre.

ETI is listed

ETI is simultaneously listed on three stock exchanges in West Africa, namely the BRVM, the Ghana Stock Exchange and the Nigerian Stock Exchange. Ecobank starts business in Sierra Leone and Tchad

ECV Servicios, a subsidiary of ETI offers money transfer services in Cape Verde.

eProcess commences operation.

eProcess, our technology and shared services affiliate is established.

Ecobank expands into Central Africa.

Ecobank expands into Central Africa. Ecobank-Cameroon opens for business.

The Group extends its network to Guinea, Liberia, Niger and Senegal.

The Group extends its network to Guinea, Liberia, Niger and Senegal. The share capital of ETI was increased and hundreds of private individuals and businesses from and outside the sub-region seize this opportunity to invest in the Group. Institutional investors, including the IFC and the West Africa Growth Fund, subscribe to the capital.

Ecobank opens in Mali. Kingdom Holding Africa invests in ETI.

Ecobank opens in Mali. Kingdom Holding Africa invests in ETI. The International Finance Corporation (IFC) subscribes to 10% of the capital of Ecobank in Burkina Faso. Ecobank Development Corporation (EDC), the Investment and Capital Market affiliate is created.

April - Ecobank opens in Burkina Faso.

Group profits exceed USD 10milion.Balance sheet size hits USD 500 million. Shareholders approve a share ownership plan for staff.

ETI pays out its first dividends.

ETI pays out its first dividends. Ecobank-Benin initiates a partnership with Western Union. This is extended to the rest of the Group.

Ecobank’s net operating profit crosses the 5m U.S. dollar mark!

Rapidtransfer product is launched and quickly becomes a success.

Ecobank Benin and Ghana start operations.

Ecobank Côte d’Ivoire and Nigeria opens for business.

First Ecobank affiliate opens in Togo.

Citibank signs a Technical Assistance Agreement (TAA) with Ecobank.

The Technical Assistance was concluded in December 1988.

The Government of Togo signs an agreement granting Ecobank Transnational Incorporated (ETI)

In October, the Government of Togo signs an agreement granting Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, the status and privileges of a non-resident regional financial institution.