His Excellency Mr. Faure Essozimna GNASSINGBE; president of the republic;
The Prime Minister, Head of Government;
The president of the National Assembly;
Heads of institutions;
Ministers of state;
Members of government;
Honourable members of Parliament;
Members of the diplomatic corps;
Representatives of international organisations;
The Mayor of Lomé;
Distinguished Traditional Chiefs;
The Representatives of monetary authorities and the financial markets;
The founding mothers and fathers of ETI;
fellow directors of ETI and ECOBANK subsidiaries;
The former chairmen and directors of the subsidiaries
All protocol taken together
Ladies and gentlemen
I would like to thank you very much for honouring by your presence this ceremony, for the laying of the first stone of ETI headquarters, a banking holding and the parent company of ECOBANK.
Mr President
On behalf of ECOBANK GROUP, I would like to express our deepest gratitude for your accepting to attend this ceremony. It is a privilege to which we are very sensitive.
Mr President,
Distinguished guests
For his faith in ECOBANK, the late President, Gnassingbé Eyadema was a visionary. He played a major role in the materialization of the idea of creating a regional financial institution. He then offered to host the headquarters of the institution in Lomé.
Since its inception in 1985, ETI has not stopped benefiting from the solicitude of the highest authorities and the people of Togo. Government of Togo has offered the group all the facilities required for its full development.
Mr President,
Your presence here is an eloquent testimony.
Mr President,
Distinguished guests
Naturally, the first subsidiary of the Ecobank group started here in Lomé in 1988. We are therefore celebrating the 20th anniversary of the start of the group’s banking activities.
In May 2008, we inaugurated the International Centre for Technologies and Shared Services in Accra, Ghana. This centre will enable us to use the new information and communication technologies to achieve our objective of making ECOBANK, a unique bank, rendering efficiently the same quality service to all our customers across Africa.
In August, we launched simultaneously on Lagos and Accra stock exchanges and the regional stock exchange of Abidjan, the issuing of preferential subscription rights and a first time public offering of shares. A première in Africa.
Today, we are laying the first stone of the new ETI headquarters.
For the past 20 years, the group overcame various difficulties to become the first pan African bank with 25 subsidiaries, 600 branches, more than 10,000 employees of 29 nationalities and offering varied financial and banking products.
ETI has also created specialised subsidiaries including:
– Ecobank Development Corporation (EDC), in charge of wholesale banking and stock market intermediation
– eProcess, in charge of technologies and integrated systems.
The other specialised structures include the international representations which assist our customers in their trading operations across the world, as well as Ecobank Foundation which finances social and cultural projects.
Mr President
Honourable Guests
The group has grown so well that it has outgrown its current clothes. That’s why it has decided to equip itself with a modern and functional building.
The new head office will be built one a 4 hectares plot, bordering the “boulevard du mono” that was kindly allotted to ETI by Togolese authorities.
It will be a seven-storey building that will house offices, an IT center, a conference center, catering, sports and entertainments facilities.
The complex will comply with standards required in terms of technology, environment and energy savings.
Furthermore, I would also like to reassure the inhabitants of Ablogamè and the mayor of Lomé that ETI will be a good neighbour and a model “citizen”.
Mr President
Distinguished Guests
The crash currently affecting the international financial system and imported from the United States of America has resulted in an unparalleled crisis.
Reviews of the impact of this earthquake and its aftershocks on the banking systems all over the world comfort the Ecobank group in its strategic choices.
Ecobank will continue with its appropriate policies in terms of risk management, and resources mobilization.
We will also continue with our banking activities and the development of financial services for the benefit of Africans.
The slowing down in the economic activities is already a reality in industrialized countries. Growth forecasts in key emerging countries are also reviewed downward.
African countries will not escape from. In effect this new situation will probably lead to a contraction in demand for export products, as well as a reduction in capital inflows.
This new situation will most likely lead to a slowdown in economic activities.
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Committed to its vision Ecobank will stand by the states in their effort to mitigate the negative impact of this crisis on their economies.
Mr President,
Distinguished Guests
At this point, I would like to express our gratitude to all those who contributed to the success of this great African Adventure
I would like especially to express all our gratitude:
• To founding fathers of ETI for their vision and determination;
• To African heads of states for their strong and effective support
• To Leaders of the group and to all the staff for their commitment and faith.
• To the monetary authorities and to the authorities of the financial markets for their trust and effective cooperation
• Lastly, and most importantly, to our shareholders and our customers for their trust.
I have no doubt that they will continue to support our ambition to make Ecobank a world pan African bank of international standing and our struggle to preserve its identity and autonomy.
Mr President,
Distinguished Guests,
At Ecobank we believe in the future of Africa
Thank you for your kind attention.
