• Ecobank Côte d'Ivoire plans to raise up to CFA30 billion ($52 million) to support its operations

• The funding will take the form of loans, issued in one or more stages over two years

• The bank reported a record profit in 2024, creating favorable conditions for the capital raise

Ecobank Côte d'Ivoire has received shareholder approval to raise up to CFA30 billion, or about $52 million, to support its business growth. The decision was made during the bank’s latest annual general meeting, following a proposal by the board of directors.

The funds will be raised through loans, which may be issued in one or more phases over a two-year period. The board has been given full authority to determine the timeline, structure, and financial terms of the operation.

This move comes as the bank seeks to keep pace with growing financing needs and expand its support for customer investments. The goal is to strengthen Ecobank Côte d'Ivoire’s market position and meet rising demand from businesses looking to grow.

The timing appears right. In 2024, the bank posted a record net profit of CFA57.5 billion (about $99 million), up 20% from the previous year. Its net banking income also grew by 11%, showing the strength of its business model. The new capital raise fits into the bank’s strategy to build on this strong momentum and support its continued expansion in Côte d'Ivoire.

Sandrine Gaingne