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ETI: A loan to help finance African SMEs
Project
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Signature date
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Location
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Multi-country Global
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Financing tool
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Financing amount (Euro)
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21000000
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Financing details
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Loan of EUR 21 M
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Customer
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ECOBANK TRANSNATIONAL INCORPORATED
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Type of customer
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Financial institution
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Country of headquarters
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Togo
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Project number
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PZZ1331
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Environmental and social ranking
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IF-A
The loan allocated to Ecobank Transnational Incorporated, the parent company of Ecobank Group based in Togo, will allow 12 subsidiaries of the pan-African group to develop their lending activity for African small and medium-sized enterprises.
Client presentation
Ecobank Group was set up in 1985 and is today the largest pan-African banking group through the number of branches, with a presence in 36 countries. Ecobank Transnational Incorporated (ETI) is the group’s parent company and is registered in Lomé (Togo). ETI has been listed on three West African stock exchanges since 2006 (Abidjan, Lagos, Accra).
Project description
This loan allocated to Ecobank Transnational Incorporated is part of a USD 200m syndication arranged by FMO. It will allow 12 of the group’s pan-African subsidiaries to develop their lending activity to African small and medium-sized enterprises.
Project impact
This credit line project to finance SMEs will contribute to the development of small businesses in Sub-Saharan Africa working in service and industry sectors. The project will also contribute to diversifying and increasing credit allocation. The project will contribute to SDG 8 (Decent work and economic growth).