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
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Ghana rolls out Publican AI at Tema Port, with early revenue rising from GH₵2.4bn to GH₵3.6bn after deployment System flags undervaluation and fraud...
Rice is deeply rooted in diets but demand now far outpaces local supply Production has increased across the region, yet value chains remain...
Government launches plans to improve data use and public services Strategy aims to support responsible use of artificial intelligence Move...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....