(Ecofin Agency) - The government of Togo, in order to reinvigorate the Togolese Bank Union (TBU), proceeded to a shuffling within the lender’s management. In this framework, Patrick Mestrallet, who was TBU’s head since July 2016 was replaced by Zakari Darou-Salim. The latter was previously the director of the former Banque Togolaise de Developpement. The outgoing manager is now member of the bank’s Board.

TBU which was created as a semi-public company in June 1964, is now a state institution after the exit of Crédit Lyonnais, Deutsche Bank and Banca Commerciale Italiana, from its shareholding. The institutions respectively held 35%, 18% and 12% of the shares. This was the result of the persisting socio-political crisis recorded in the early 1990s’.

According to official sources, “TBU, after 50 years of existence, has 46 sales points across the country’s five economic regions. Its share capital stands at CFA10 billion”. 

New chart of TBU’s management.

Chief Executive Officer: Zakari DAROU-SALIM

Director of International affairs and Treasury: Mada Joël-Joseph BODJONA

Director of Commitments: Mandaliw ALI-TILOH

Chief Financial Officer and Accountant: Alewabia Djiwa BODJONA

Director of Information and Production System: Haady MEATCHI

Auditor General: Komi LADZEKPO

Commercial Director: Mada Joël-Joseph BODJONA

Management Controller: Tagba ABI

Administrative Director: Ouro-Akpo MOUSSA

Compliance Officer: Kwame KPEKPASSI