Ecobank Group was set up in 1985 and is today the largest pan-African group by the number of branches, with a presence in 36 countries. Ecobank Transnational Incorporated (ETI) is registered in Lomé (Togo) and is the group’s parent company. ETI has been listed on three West African stock exchanges since 2006 (Abidjan, Lagos, Accra).
This subscription for a nominal amount of USD 35m to the USD 450m Inaugural Bond issued by ETI is the result of a long-term partnership between PROPARCO and ETI. Proparco has participated in this transaction as an anchor investor (lead investor) alongside its Dutch counterpart, FMO. The presence of the two institutions in the round has allowed ETI to attract and reassure private investors who are less familiar with emerging markets.
This issue will allow ETI Group to strengthen its balance sheet structure by replacing short-term commitments raised in 2018 by longer-term financing and thereby best serve the interests of its subsidiaries, most of which are among the main banking institutions in their countries of operation.
Proparco’s operation is helping to mobilize private investors for a key banking group for financing the continent’s economy, which is present in 36 countries and with which Proparco has built a long-standing partnership.
This information is given at the time of signature, without prejudice to any developments in the operation/project