Lomé — Ecobank Transnational Incorporated, the pan-African banking group with a presence in 35 countries worldwide, announces the appointment of four new directors to the Board, namely:

• Thierry Tanoh, Group Chief Executive Officer Designate;
• Dr. Dan Matjila, Chief Investment Officer (CIO) and Executive Director of Public Investment Corporation (PIC), as a Non-Executive Director;
• Patrick Akinwuntan, Group Executive - Domestic Bank, as an Executive Director; and
• Eddy Ogbogu, Gr oup Executive, Operations and Technology, as an Executive Director

Commenting on the Board appointments, Kolapo Lawson, Ecobank Group Chairman, said:

“On behalf of the Board, I am very pleased to welcome Thierry Tanoh officially to the executive team at Ecobank and wish him every success, both during this transitional period and in leading the continued development of the Group in the future.”

“We are also delighted to welcome Dr. Daniel Matjila to the Board. His considerable business and investment experience will add a valuable perspective to our strategic development. The Board all very much look forward to working with him."

“The appointments of Patrick and Eddy as Group Executive Directors come in recognition of the significant contribution they both have made to Ecobank’s product innovation and operational efficiency.”

Notes to Editors:

Thierry Tanoh (aged 50), Group Chief Executive Officer Designate

Mr. Thierry Tanoh was appointed CEO Designate of the Ecobank Group at the end of 2011, as part of a succession plan put in place as a result of the impending retirement of Ecobank’s incumbent CEO, Mr. Arnold Ekpe, at the end of 2012. Mr. Tanoh commenced his executive role with Ecobank in July and is currently working closely with Mr. Ekpe to ensure the smooth transition of leadership responsibilities.

Mr. Tanoh joins Ecobank Group from the IFC, a member of the World Bank Group and a global financial institution that supports private sector development in developing countries. During his 17-year career with the IFC, Mr. Tanoh has played a key role in expanding the latter’s investment activity in Sub-Saharan Africa from USD 140 million in 2003 to more than to $3.5 billion in 2011. During this time, his responsibilities included business development, deal structuring and processing of some of IFC’s largest transactions, before taking on a broader management role.

Mr. Tanoh joined IFC in 1994 through the young professional program. He initially worked in the Asia Department. He then specialized in the chemicals and petrochemicals sector, working on transactions in Asia, Latin America and Eastern Europe. He moved to Rio de Janeiro, Brazil in 2001, focusing on transactions in Latin America. He became Regional Director in 2006 and Vice President, Latin America & the Caribbean, Sub-Saharan Africa and Western Europe in 2008.

Prior to joining IFC, Mr. Tanoh worked for a consulting firm in Paris and with the banking commission of the West African Central Bank in Abidjan, Cote d’Ivoire. An Ivorian national, he graduated from Ecole Superieure de Commerce d’Abidjan, is a certified public accountant in France and holds a Masters in Business Administration from the Harvard Business School.

About Ecobank:

Incorporated in Lome, Togo, Ecobank Transnational Incorporated is the parent company of the leading independent pan-African banking group. It currently has a presence in 32 African countries, namely: Angola, 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, Zimbabwe.

The Group is also represented in France through its affiliate EBI S.A. in Paris. ETI also has representative office in Dubai, United Arab Emirates and London, UK. ETI is listed on the stock exchanges in Lagos, Accra and the West African Economic and Monetary Union (UEMOA) – the BRVM in Abidjan. The Group is owned by more than 600,000 local and international institutional and individual shareholders. The Group has 18,375 employees in 35 countries and 1,206 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.