Ecobank and the Global Fund today announced a partnership that includes innovative financing, advocacy and cash contributions worth a total of US$3 million over the next three years.
Ecobank and the Ecobank Foundation will partner with the Global Fund to Fight AIDS, Tuberculosis and Malaria in innovative regional and country specific financing programs that will aim to strengthen the financial management capabilities of grant recipients. Ecobank will also contribute training in financial management skills, accounting and reporting are all expected to facilitate improved grant applications, as well as the implementation and evaluation processes.
Ecobank is a leading pan-African financial institution that operates in 35 countries in Africa and embraces a mission of contributing to the economic and financial development of Africa. Ecobank will provide advocacy for the Global Fund, and call on the innovative capabilities of its partners and over 19,000 employees.
Ecobank will contribute US$1.5 million in cash, and half will be earmarked for strengthening the financial management capabilities of implementing partners. Additional contributions of in-kind services, training and fundraising by Ecobank will further cement the three year partnership. The terms of the partnership can be extended for an additional two years upon expiry of the initial term.
Charles Kie, Group Head of Corporate Banking, represented Ecobank at a reception in Washington D.C. on 2 December during the launch of the Global Fund's Fourth Replenishment.
Mark Dybul, Executive Director of the Global Fund, observed: "Ecobank is a natural partner for us with our work supporting programs in sub-Saharan Africa. Ecobank's commitment to offer services to strengthen the financial management capabilities of implementers will help facilitate the Global Fund's support for local outreach to the most vulnerable in Africa."
Philip Chikwuedo Asiodu, Chairman of the Ecobank Foundation, further commented: "The health sector is a strategic priority for the Foundation. Entering into this partnership will make a significant contribution to improving the well-being of all the African communities in which we work and live."
"Access to quality healthcare for all is vital to the growth and prosperity of Africa," concluded Charles Kie. "As an institution committed to the sustainable development of the Continent, Ecobank shares many of the Global Fund's objectives and we are proud to be partnering with the Global Fund in combating these three diseases throughout Africa."
Notes to Editors
About Ecobank Group
Incorporated in Lomé, Togo, Ecobank Transnational Incorporated (ETI) is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 35 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d'Ivoire, Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, South Sudan Tanzania, Togo, Uganda, Zambia, Zimbabwe.
The Group is also represented in France through its affiliate EBI SA in Paris. ETI also has representative offices in Dubai, United Arab Emirates, London, UK and Beijing, China. ETI is listed on the stock exchanges in Lagos, Accra, and the West African Economic and Monetary Union (UEMOA) – the BRVM. The Group has more than 600,000 local and international institutional and individual shareholders. The Group employs nearly 19,000 people from 40 different countries in over 1,200 branches and offices.
Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals. Additional information may be found at www.ecobank.com.
About The Ecobank Foundation
The Ecobank Foundation was established in 2005 to support charitable and humanitarian programs, with the Group committing 1% of profits after tax to the Foundation. In 2012, a new strategy was implemented to further align the activities of the Foundation with the mission, strategy and businesses of the Ecobank Group, especially in public sector and sustainable banking, drawing from global best practices. It aims to capitalize on the bank's business resources and people to enhance the Foundation's community investments. It leverages the expertise of Ecobank's employees to maximize grant resources through volunteering and community engagement. The strategy also fosters collaboration with a range of partners to achieve economies of scale and long-term positive impacts for the people and communities being served.
About The Global Fund
The Global Fund is an international financing institution dedicated to attracting and disbursing resources to prevent and treat HIV and AIDS, TB and malaria. The Global Fund promotes partnerships between governments, civil society, the private sector and affected communities, the most effective way to help reach those in need. This innovative approach relies on country ownership and performance-based funding, meaning that people in countries implement their own programs based on their priorities and the Global Fund provides financing where verifiable results are achieved.
Since its creation in 2002, the Global Fund has supported more than 1,000 programs in more than 140 countries, providing AIDS treatment for 6.1 million people, anti-tuberculosis treatment for 11.2 million people and 360 million insecticide-treated nets for the prevention of malaria. The Global Fund works in close collaboration with other bilateral and multilateral organizations to supplement existing efforts in dealing with the three diseases.
Additional information may be found at www.theglobalfund.org.
