by Adhya Singh -

MICROCAPITAL BRIEF: EIB Lends Ecobank Group $113m for SMEs in Africa, with Emphases on Women, Adjusting to COVID-19

The Togo-based Ecobank Group recently received a 9-year credit facility of EUR 100 million (USD 113 million) from the EU’s European Investment Bank (EIB). The purpose is to help develop the small and medium-sized enterprise (SME) sector, with a particular emphasis on the

by the MicroCapital Team -

MICROCAPITAL BRIEF: Incofin Loans Inecobank of Armenia $6m from Microfinance Enhancement Facility (MEF) to Offset Effects of COVID-19 via Mobile Banking

Belgium-based Incofin Investment Management (IM) recently disbursed a loan of USD 6 million to Inecobank, an Armenia-based institution, from the Microfinance Enhancement Facility (MEF), a fund launched by the German government’s KfW Entwicklungsbank and the World Bank Group’s International Finance Corporation. The proceeds will enable Inecobank to increase its lending during the COVID-19 pandemic. Since March, due to the pandemic, the bank moved all of its

by the MicroCapital Team -

MICROCAPITAL BRIEF: Ecobank, Terre des Hommes to Provide “SaVa” Digital Microsavings to Street-involved Youth in Togo

Ecobank, a Togo-based provider of banking services in 36 countries, is rolling out a pilot program with Switzerland-based NGO Terre des Hommes to deliver mobile savings services to children who work in the streets of the Togolese capital of Lome. To save money, the target youth sometimes bury it or

by the MicroCapital Team -

MICROCAPITAL BRIEF: Incofin’s agRIF Buys 10% Equity Stake in Armenia’s Inecobank from IFC, DEG

A microfinance investment vehicle of Belgium’s Incofin Investment Management, agRIF, recently paid an undisclosed sum to acquire a 10-percent stake in Inecobank, a commercial bank in Armenia whose mission is “to promote private sector development acting as a

by the MicroCapital Team -

MICROCAPITAL BRIEF: Ecobank Offering Agency Banking in The Gambia via Rural Retailers

Ecobank, which is based in Togo and serves 36 countries, recently began offering deposit and withdrawal services via retailers in The Gambia in order to reach more people who live far from bank branches. Ecobank Managing Director Josephine Anan-Ankomah reportedly described the service as “the key component that completes

by Alex Gelfond -

MICROCAPITAL BRIEF: Netherlands’ FMO Syndicates $220m Loan for Togo-based Ecobank, with Participation from BlueOrchard Microfinance Fund, Symbiotics, Oikocredit, DEG, Proparco, OeEB, BIO

The Netherlands Development Finance Company, a government-backed institution also known by its Dutch acronym FMO, recently arranged a syndicated loan in the amount of USD 220 million for Togo-based Ecobank Transnational Incor

by Phoebe Rorke -

MICROCAPITAL BRIEF: After Launch in Tanzania, Ecobank Mobile App Available in 33 African Countries

Ecobank Tanzania, a unit of Togo-based Ecobank Group, recently announced its launch of the Ecobank Mobile App, which allows customers to use mobile devices to perform fund transfers, top-up airtime, pay bills, check forex rates, view account statements, make retail payments, and interface with payment cards and checks.

by Jason Wei -

MICROCAPITAL BRIEF: Ecobank, Old Mutual Partner to Distribute Microinsurance in Africa

Ecobank Group, an arm of Togo-based Ecobank Transnational Incorporated (ETI), and Old Mutual Emerging Markets, an arm of South Africa’s Old Mutual Group, recently announced an agreement to provide Ecobank’s customers with Old Mutual’s “life insurance, savings and short-term insurance solutions across a greater network on the African continent.” Specific plans for the rollout have not been released.

by Victor Mugo -

MICROCAPITAL BRIEF: IFC, Ecobank to Share Risk on $110m in Loans for Small, Medium-sized Enterprises (SMEs) in West, Central Africa

The International Finance Corporation (IFC), a member of the World Bank Group; and Ecobank Transnational Incorporated (Ecobank), a commercial bank based in Lome, Togo, with operations in 36 African countries, recently announced the launch of a risk-sharing credit facility in the amount of USD 110 million.

by Julia Marín -

MICROCAPITAL BRIEF: Orange, Ecobank Partner to Launch Mobile Money Service in Mali with Plans to Expand Across Africa

Orange, a French provider of telephone and Internet service in 30 countries, and EcoBank Transnational Incorporated (EcoBank), a Togo-based bank operating in 28 countries, recently launched a mobile banking service that will enable Orange Money subscribers to transfer money between Ecobank accounts. As of February 5, both companies signed a partnership agreement to launch the service in Mali, and they plan to expand to Cameroon, Côte d’Ivoire, Guinea Conakry, Niger, Senegal and the Democratic Republic of the Congo in the future. Customers also will be able to check their account balances, receive “mini-statements” via short message service (SMS, also known as text messaging) and top-up their Orange Money e-wallets [1]. 

by Ananya Tiwari -

MICROCAPITAL BRIEF: Togo-based EcoBank to Accept MasterCard Debit, Credit, Prepaid Cards via 2,500 ATMs, 10,000 Points of Sale in 28 African Countries

MasterCard, a US-based payment solutions company, recently partnered with EcoBank Transnational Incorporated (EcoBank), a Togo-based bank, to enable Ecobank’s customers to use MasterCard debit, credit and prepaid cards at all of Ecobank’s point-of-sale (PoS) terminals and automated teller machines (ATMs).

by Emily Teleposky -

MICROCAPITAL BRIEF: Globacom Launches Glo Xchange in Nigeria to Share 42k-Agent Mobile Money Network with Customers of Ecobank, First Bank, Stanbic

Globacom, a Nigerian telecommunications company that serves 25 million mobile phone subscribers in four countries in Africa, reportedly has launched Glo Xchange, opening its network of 42,000 agents to the following mobile money operators: FirstMonie, a mobile money initiative backed by First Bank of Nigeria; Ecobank, which has operations in 29 African countries; and Stanbic, a commercial bank that operates in Nigeria and Uganda.

by Nisha Koul -

MICROCAPITAL BRIEF: Public Investment Corporation of South Africa Among Those Demanding Resignation of Thierry Tanoh, CEO of Togo-Based EcoBank

Mr Thierry Tanoh, the chief executive officer (CEO) of Togo-based EcoBank Transnational Incorporated (EcoBank), has been called to step down due to allegations of being “unfit to lead” the bank [1].

by Megan McGowan -

MICROCAPITAL BRIEF: EcoBank to Offer Mastercard in 23 African Countries

MasterCard Incorporated, a US-based payments and technology company with operations in 210 countries and territories, reportedly has signed a deal with EcoBank Transnational Incorporated, a Togo-based bank with operations in 20 African countries, to provide MasterCard payments cards to EcoBank’s customers in 23 countries in Africa.

by Adrija Vaiciulionis -

MICROCAPITAL BRIEF: European Fund for Southeast Europe to Loan $6m to Inecobank to Support Micro- and Small Enterprises (MSEs)

The European Fund for Southeast Europe (EFSE), a Luxembourg-based, EU-backed microfinance investment vehicle (MIV), recently agreed to loan EUR 5 million (USD 6.65 million) to Inecobank, an Armenia-based microfinance bank.

by Anesa Kratovac -

MICROCAPITAL BRIEF: Ecobank, Lonestar Cell MTN Launch “Mobile Money School Fees Payment Service” in Liberia

Ecobank Transnational Incorporated (ETI), a pan-African banking conglomerate that operates in 33 African countries, and Lonestar Cell Mobile Telecommunications Network (MTN), a member of the multinational telecommunications company MTN Group that has services in 21 countries in Africa, Europe and Middle East, reportedly have launched a partnership in Liberia that will alleviate the costs of waiting to pay for students’ school fees [1].