Close Menu
Innovation Village | Technology, Product Reviews, Business
    Facebook X (Twitter) Instagram
    Thursday, July 24
    • About us
      • Authors
    • Contact us
    • Privacy policy
    • Terms of use
    • Advertise
    • Newsletter
    • Post a Job
    • Partners
    Facebook X (Twitter) LinkedIn YouTube WhatsApp
    Innovation Village | Technology, Product Reviews, Business
    • Home
    • Innovation
      • Products
      • Technology
      • Internet of Things
    • Business
      • Agritech
      • Fintech
      • Healthtech
      • Investments
        • Cryptocurrency
      • People
      • Startups
      • Women In Tech
    • Media
      • Entertainment
      • Gaming
    • Reviews
      • Gadgets
      • Apps
      • How To
    • Giveaways
    • Jobs
    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Africa»IFC, AMC to sell 14.1% stake in Ecobank Transnational 
    Ecobank

    IFC, AMC to sell 14.1% stake in Ecobank Transnational 

    0
    By AdeO on June 19, 2019 Africa, Banking, Business
    The International Finance Corporation (IFC) and its Asset Management Company have reached advanced discussions to sell equity holding in Ecobank Transnational Incorporated (ETI). The company said that IFC and the Asset Management Company (AMC) had entered into a share purchase agreement with the Dutch investment firm, Arise BV for the sale of their circa 14.1 per cent stake in ETI. ETI Lome-based parent company of the Ecobank Group announced material information relating to its ownership structure in a statement to the Nigerian Stock Exchange. According to the statement, completion of the transaction is expected in the coming months, subject to due diligence, internal and regulatory approvals. It said that IFC and ETI had worked together since 1993 to broaden access to finance, enhance trade liquidity and strengthen Ecobank. “Since 2009, IFC and the funds managed by the IFC Asset Management Company, through their investments, have been supporting Ecobank’s growth strategy across Africa in building a pre-eminent banking franchise,” it said. Arise BV is a leading equity investor in financial institutions in Sub-Saharan Africa, with a combined asset value in excess of 700 million dollars. Its mandate is to capitalise and stimulate growth across all financial services sub-sectors within sub-Saharan Africa.

    Related

    Banking
    Share. Facebook Twitter Pinterest LinkedIn Email
    AdeO
    • X (Twitter)

    Related Posts

    Vodacom strengthens fintech lead with $460B processed in mobile money transactions

    Brandon Leigh steps down as CEO of Rain after years of leadership

    Prosus plans to reduce stake in Delivery Hero amid regulatory pressure

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Copyright ©, 2013-2024 Innovation-Village.com. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.