Ecobank Opens Dubai Office

4 October 2010
Content from a Premium Partner
Ecobank (Lome)
press release

Ecobank CEO, Arnold Ekpe announced the opening of a representative office in Dubai last month, in a move calculated to facilitate capital flows between the Middle East and Africa.

Mr Ekpe said with an increasing number of African businessmen sourcing goods from Dubai, and Middle Eastern companies investing substantially across Africa, there is scope for providing customers with banking, financial and investment consulting services.

"The need for Ecobank to establish a presence in Dubai is justified by the existing untapped opportunities to tap into the

growing business exchanges between Africa and the Middle East," Mr Ekpe said.

"Our Dubai office will also enable us to facilitate Middle East private and bilateral flows leveraging on our pan African banking platform," added Mr Albert Essien, CEOof Ecobank Corporate.

In recent years, Middle Eastern companies have been steadily acquiring companies across sub-Saharan Africa or going into joint business ventures in sectors such as telecommunications, air and sea transport, real estate, construction, mining and management services.

Ecobank's decision to set up an office in Dubai will be seen in business circles as a bold pioneering move.

About Ecobank ( www.ecobank.com )

Incorporated in Lome, Togo, Ecobank Transnational Incorporated (ETI) is the parent company of the leading independent regional banking group in Africa. It currently has a presence in 30 African countries, namely: Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo (Brazzaville), Congo (Democratic Republic), Côte d'Ivoire, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Liberia, Malawi, Mali, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra Leone, South Africa, Tanzania, Togo, Uganda, Zambia. The group also has an affiliate EBI S.A. in Paris and a representative office in Dubai, United Arab Emirates. ETI is listed in the stock exchanges in Lagos, Accra and the West African Economic and Monetary Union (UEMOA) – the BRVM. The Group is owned by more than 180,000 local and international institutional and individual shareholders. It has over 11,000 employees from 35 nationalities in over 750 branches. 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.

For more information please send an email to contact@ecobank.com

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