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Tag: Ecobank Nigeria

  • Ecobank Nigeria begins tender for $300m Senior Eurobond offer

    Ecobank Nigeria begins tender for $300m Senior Eurobond offer

    Ecobank Nigeria Limited has announced the launch of a tender offer for its outstanding $300 million 7.125 per cent Senior Note Participation Notes due 2026.

    A total of $150 million of the notes remain outstanding.

    The proposed offer is expected to settle on or before 31 December 2025. Holders whose notes are validly tendered and accepted for purchase will receive a cash consideration of $1,000 per $1,000 in principal amount of the notes, along with accrued and unpaid interest up to but excluding, the settlement date.

    The bank stated that the initiative reflected Ecobank Nigeria’s proactive approach to liability management and prudent balance sheet optimisation.

    According to the bank, by launching the tender offer, it is providing eligible noteholders with an option to redeem their holdings ahead of the original maturity date of 16 February 2026.

    The proposed offer aims to support the bank’s broader funding strategy, enhance capital planning flexibility, and reinforce its commitment to maintaining a well-structured debt profile.

    The bank stated that the proposed offer underscored its ongoing commitment to transparent engagement with funding partners and investors.

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    It said the move aligned with its  long-term objective of ensuring efficient capital management while sustaining confidence in its financial obligations.

    Participation in the Proposed Offer is entirely at the discretion of Noteholders, who may choose to tender based on their individual investment considerations.

    This announcement is provided strictly for informational purposes. It does not constitute, and should not be construed as, an offer or solicitation to purchase or sell any securities, nor does it represent investment advice or a recommendation to participate in the Proposed Offer. Any decision to participate should be made in accordance with the procedures and terms set out in the tender offer documentation provided to eligible Noteholders.

  • Ecobank Nigeria unveils new promo

    Ecobank Nigeria unveils new promo

    Ecobank Nigeria, a subsidiary of the Ecobank Group, has unveiled a deposit mobilisation campaign ‘Ecobank Super Rewards ‘Millionaire Geng Promo’ targeted at rewarding customers’ loyalty. The six-month campaign, which is set to run between July 1 and December 31, 2024, will see 540 customers of the Pan African bank winning various monetary rewards.

    Announcing the commencement of the campaign, Head, Consumer Banking, Adeola Ogunyemi said it is part of the bank’s strategy to reward customers’ loyalty, adding that it would also deepen financial inclusion for all classes of Nigerians, especially those in the rural and semi-urban areas. She explained that participation is open to both new and existing individual customers of the bank across the country, who qualify to be rewarded, while also enjoying a first-grade banking experience.

    “Under the reward initiative, 520 of our customers will win N50,000 monthly for 6 months; 16 customers are expected to win N500,000 quarterly in September and December and 4 customers will win N2,000,000 each at the end of campaign. We expect many Nigerians particularly those that are yet to have account with us to avail themselves of this opportunity and enjoy the top-notch services that we offer,” Ogunyemi said.

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    Speaking on the dynamics of the campaign, Head, Consumer Segments & Products, Victor Yalokwu, stated that the conditions to qualify for the campaign were made simple and easy, all in a bid to ensure both new and existing customers participate and get rewarded. 

     “New customers only need to open an account with a minimum of N10,000  and maintain for 30 days to qualify for the monthly draw which also applies to existing customers. To qualify for the quarterly draw, new and existing customers are expected to deposit and maintain a minimum amount of N50,000  for 3 months consecutively while to qualify for the grand prize, customers are expected to deposit and maintain a minimum amount of N50,000 for 6 months consecutively. In addition, customers are expected perform a minimum of 2 transactions monthly,” Yalokwu said.

    He further explained that prospective customers can open an account by visiting aop.ecobank.com while customers with dormant accounts can visit www.ecobank.com/ng/personal-banking to reactivate their accounts.

  • Ecobank Nigeria launches MySME growth series

    Ecobank Nigeria launches MySME growth series

    Ecobank Nigeria, a subsidiary of the Ecobank Group, the leading pan-African bank has launched an innovative training program targeted at empowering operators of small and medium enterprises (SMEs) in the country. Through the initiative, titled MySME Growth Series, the Bank will train over 1 million SME operators across the country in 2024.

    Announcing the programme in Lagos, Osahon Akpata, Head, SME & Partnerships, Ecobank Nigeria, said the empowerment program is line with the Bank’s commitment to power the success of SMEs in different sectors of the economy.

    “Ecobank aims to train 1 million SMEs in Nigeria to improve their capabilities and stimulate growth. We are launching the first phase of our training program – MySME Growth series, a selection of virtual bootcamps led by facilitators who are experts in their fields.

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    SMEs are the growth engine of Nigeria’s economy contributing almost 50 per cent of GDP and 90 per cent of jobs. As a bank that is growth focused, Ecobank is committed to the success of SMEs in different sectors of the economy,” he said.

    Further, he disclosed that with an overall theme of “Scaling up your SME in 2024”, the first weekly MySME Growth webinar series will hold on Thursday, February 1 with a focus on ‘Growing your business online’ and would be facilitated by Ijeoma Arum, Chief Commercial Officer, Jumia Nigeria. He noted that the webinar will hold every Thursday throughout the year.

    In addition, Akpata explained that the series will dwell on various topics that cover key areas of concern for small businesses such as accounting, credit, sales & marketing, taxation and inventory management, adding that the Bank is also planning to launch an SME Mentorship program to collaborate with successful entrepreneurs.

    “We will also equip SMEs with tools to help their business such as budget templates, calculators for simulating scenarios and links to government forms. They will be trained on resources for starting a business including how to register, statistics for various industries and geographies and key points to consider when running a business. We will also provide articles on key topics including tips to increase sales, advertising ideas, business management practices, case studies and guides to leveraging technology, amongst others,” he enthused.

  • Ecobank chief asks bankers to reposition for challenges

    THE Managing Director, Ecobank Nigeria, Patrick Akinwuntan has called on bankers to  reposition their skillsets and knowledge-scope in order to meet with the challenges of a fast-changing business environment and marketplace.

    Akinwuntan, who was the guest speaker at the 2019 graduates induction & prize award event of the Chartered Institute of Bankers of Nigeria (CIBN), in Lagos at the weekend gave this advice in his presentation titled: “Repositioning for Relevance in a Competitive Environment”.

    He said the banking sector was undergoing significant disruptions in a bid to remain relevant, increase convenience, productivity whilst ensuring banking is simple for individuals and businesses alike. Stressing that bankers must respond through repositioning, adoption of and adaptation to potentially disruptive technologies in their career models and strategies.

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    The Managing Director explained that Ecobank Nigeria, which is a member of Pan African bank, Ecobank Transnational Incorporated (ETI)  based in Togo is already repositioning its entire workforce for the Millennial age through various trainings, skills development and capacity building, stating that the Bank has made many pioneering achievements and ‘firsts’ across various products and digital platforms in the country in line with its repositioning efforts. “Only recently, the Chartered Institute of Bankers of Nigeria (CIBN) accredited our state of the art training Academy which runs the Entry Level Development, Graduate and Management Trainee programs.

     

     

  • Ecobank’s “Digital Campus” campaign returns with EcobankPay

    Ecobankpay, the lifestyle digital payment and collections service of Ecobank Nigeria, leads the pack as the bank takes its financial inclusion campaign to higher institutions of learning across the country. The Digital Campus campaign is making available digital banking platforms to students, teachers, other workers and businesses within campuses enabling them transfer and receive funds easily, engage in cardless withdrawals from ATMs and make payments with EcobankPay using their mobile phones.

    EcobankPay which enables convenient and stress free digital payment is accompanied by Xpress pay point which facilities seamless transactions.

    Commenting on why the bank decided to embark on the campus campaign, Ecobank Nigeria’s Head, Consumer Banking, Ayodele Osolake, said “the last edition of this campaign has warmed us more to the students, lecturers and other workers on the campuses visited, as they are now able to do banking just with their phones”.

    “This has eased the entire banking process for them, whether they are opening accounts, sending and receiving money, paying school fees or withdrawing cash without cards through the Ecobank Xpress cash. Parents and guardians are now able to transfer money to their children’s Ecobank accounts, which they can withdraw without a debit card at any Ecobank ATM (using Xpress Cash) or Xpress Point,” said an excited Osolake.

    “We feel it will be a disservice not to reach other campuses not visited during the first edition. Showcasing our various digital products to an increasingly digital audience is a perfect match; they will find it much easier and simpler to transact remotely, thus meeting up with their financial and lifestyle needs, without having to walk into a bank branch. We are committed to visiting all institutions of higher learning in Nigeria; all stakeholders within these systems will benefit from our pervasive digital banking services.”

  • CBN lauds Ecobank’s Sustainability Efforts

    The Central Bank of Nigeria (CBN) has recognized and awarded Ecobank Nigeria on its laudable sustainability and Corporate Social Responsibility (CSR) initiatives.

    The CBN at its 2018 annual awards for sustainability in Lagos, recognized Ecobank’s activities in four categories which include Sustainability Bank of the Year;; Sustainability Bank of the Year -oil and gas; Sustainability Bank of the Year -power sector and the Women Empowerment category  – the bank was first runners up in all four categories. These recognitions are an acknowledgement not only of the bank’s efforts at supporting industrial sector development but also in the development of efficient sustainability programmes for the good of the citizenry.

    Read also: CBN slashes interest rate to 13.5%

    The CBN Sustainability Awards – a part of the Nigerian Sustainable Banking Principle, NSBP, initiated in 2012, is an award that appreciates the efforts of financial service providers who have been able to successfully integrate social and environmental considerations into their operations, spanning across their processes and strategies.

    In his comment, Managing Director, Ecobank Nigeria, Patrick Akinwuntan, said:  “it is a deliberate policy of Ecobank Nigeria to embark on sustainable projects that impact people and the environment.

     

     

  • Ecobank to focus on women entrepreneurs

    The Managing Director, Ecobank Nigeria, Patrick Akinwuntan, has said female entrepreneurs with focus to build shopping empires will be considered for credit facilities in the bank.

    Akinwuntan spoke during the unveiling of a new initiative tagged: “Ecobank Female Entrepreneurs Initiative” which recently held in Lagos.

    Some of the benefits include access to credit facilities with little or no collateral, network opportunities across Africa, financial advisory services, wealth management resources and loyalty schemes.

    The initiative was designed to provide women with the necessary support to help them excel in their endeavours, promote and grow their businesses and generally position them for increased participation in the economy of the nation.

    It was also part of activities of the commercial bank to mark this year’s International Women’s Day and also  recognise women as special and unique customers who require tailor-made service offerings.

    He said: “Increasingly, we are seeing the change in the attitudes of women, and their economic viability as individuals and leaders in their fields. Their banking and financial services as a whole therefore present vast opportunities, if properly understood and managed.”

    According to Akinwuntan, the launch is a charge to the society in line with the theme of the International Women’s Day 2019, to challenge the status quo and strive for a balance by empowering females in their immediate environments and subsequently, on a macro level.

    In his words: “Our female customers will become our flagship ambassadors and we have created this platform for them in line with the sustainability requirements of the Central Bank of Nigeria (CBN). These women will be provided with free health checks, training and empowerment sessions and other support tools from Ecobank. The Ecobank Female Entrepreneurs Initiative aims at empowering women by helping them build capacity to grow their businesses.”

    The  Executive Director, Commercial Banking, Mrs. Carol Oyedeji, stated that Ecobank was proud to join the rest of the world to commemorate the Day with the special theme #BalanceforBetter.

    She remarked: “This year’s theme leaves no one in doubt as to the dire need to raise more awareness that gender balance is not a women’s issue but a human issue that must be tackled for us to have a better society and that it should not be mistaken for a battle between the sexes.”

    She called on corporate bodies to ensure women attain their full potential in all areas of society, including the workplace, which she said is vital to the communities and economies to thrive. “A balanced world is a better world. We must help forge a more gender-balanced world by celebrating and recognising women’s achievements, raising awareness against bias and taking action for equality,” she added.

     

     

  • Ecobank CEO speaks on Fintech gains in Africa

    Managing Director, Ecobank Nigeria, Patrick Akinwuntan   has listed Africa’s potentials and how the continent can harness opportunities in Financial Technology (Fintech).

    Speaking  at the third National Fintech Conference and Africa Fintech Festival 2018 Edition in Lagos, on the theme: Fintech- Beyond and Hype, he said Africa, as a whole, has an economy where over 95 per cent of transactions are conducted in cash, hence, offers an opportunity it could harness via digitisation.

    The conference, which kicked off the Africa Fintech Festival series, is a week-long festival with two days of main conference and various other engaging side attractions running throughout the week. Akinwuntan said: “Digitisation will provide an important avenue for African economies to leapfrog, not only financial development, but also development across other sectors of the economy.

    “There are infinite opportunities on the digital platform and fintech are working really hard to develop and introduce products that will benefit Africa. These changes will only benefit African economies that are ready to embrace digitalisation.”

    He said mobile devices are also obvious tools, which Africa could use to unleash the power of digitalisation across the continent, adding that with the rising penetration of mobile broadband, there are more possibilities ahead for Africa. Akinwuntan also said Africa could copy from other continents and countries that had harnessed digitalisation to boost their economy. “For instance, Estonia, a small European country, was trying to find its feet post-breakup of the Soviet Union in 1991, without much resources from which to rebuild.

    “The government led a deliberate effort to fast-track economic development leveraging digitalisation rooted in the goal to improve the wellbeing of its citizens. They invested in a broadband network across the country, digitised government services and incentivised citizens,” Akinwuntan said. Ecobank, according to him, was in 36 countries in Africa and was ready to collaborate with all willing partners to make digital payments across Africa a reality.

     

  • Ecobank Nigeria gets new MD

    Ecobank Nigeria Limited on Thursday announced the appointment of Mr. Patrick Akinwuntan as the Managing Director designate of the bank.

    The bank said in a statement that Akinwuntan would replace the outgoing Managing Director, Mr. Charles Kie, whose exit date would be announced later.

    Prior to his appointment, Akinwuntan was the Group Executive Director, Consumer Banking, in Ecobank’s global network in 40 countries.

    He started his career with the bank in 1996 as Head of Commercial Bank and Regional Head in Ecobank Nigeria and held various senior and executive positions in the Ecobank Group.

    A fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Akinwuntan also holds a Masters Degree in Business Administration from the Obafemi Awolowo University (OAU), Ile Ife.

    He is an alumnus of the Senior Executive Programme (SEP) of the Harvard Business School, a honorary senior member of the Chartered Institute of Bankers of Nigeria (CIBN) and an associate of the Chartered Institute of Taxation of Nigeria (CITN).

    The Chairman, Board of Ecobank Nigeria, Mr. John Aboh, congratulated Akinwuntan on his new appointment.

    “We warmly welcome Patrick back to Ecobank Nigeria and look forward to providing him with full support from the board.

    “I extend our gratitude to the outgoing Managing Director, Charles Kie, for his tremendous contributions to Ecobank Nigeria’s development and I wish him success in his future endeavours,” Aboh said.

    NAN