ECOBANK TRANSNATIONAL INCORPORATED
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Ecobank Transnational Incorporated (“ETI”) is Fitch rated B- and is a leading pan-African banking group providing wholesale, retail, investment and transaction banking services to financial institutions, multinationals, governments, local corporates, SMEs, and individuals. ETI’s footprint extends to over 20 mln customers across 33 countries in Sub Saharan Africa.
What is our funding objective?
The project objective is to support ETI in implementing the Sustainable Finance Framework through a review, gap analysis and action plan which will cover elements related to i) capacity and training, ii) external verification and iii) reporting of allocation and impact metrics.
Why do we fund this investment?
The project is expected to showcase the establishment of a partnership towards sustainability with a financial institution with a unique footprint across 33 African countries and over 20 mln customers, which could also set new standards for financial institutions in the region looking at innovative methods to catapult sustainability in the sector.
More investments
| Date | Total FMO financing |
|---|---|
| 12/8/2023 | USD 60.00 MLN |
| 6/10/2021 | USD 50.00 MLN |
| 11/18/2021 | USD 50.00 MLN |
| 7/22/2022 | USD 5.50 MLN |
| 7/22/2022 | USD 50.00 MLN |
- Website customer/investment
- http://www.ecobank.com
- Region
- Africa
- Country
- Africa
- Sector
- Financial Institutions
- Effective date
- 12/13/2021
- Total FMO financing
- EUR 0.10 MLN
- Funding
- ForeignAffairs - CD
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A