ETI Gets US$100 Million Equity Investment from IFC
By Daniel Nonor (Email k2dan@yahoo.co.uk) - Ghanaian ChronicleBusiness & Finance | Tue, 24 Nov 2009
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International Finance Corporation (IFC), the private sector arm of the World Bank Group, has invested US$100 million in equity in Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group. The investment makes the International Finance Corporation (IFC) one of the leading shareholders in the ETI.
This investment is part of ETI's ongoing capital raising, continued from 2008 when the company raised US$550 million in equity from an Initial Public offer (IPO), and US$150 million in long-term capital from a number of development finance institutions, including the IFC and FMO, the Netherlands Development Finance Company.
The investment stems from a US$100 million convertible loan that Ecobank secured from IFC in July 2008 to support its growth and diversification strategy in sub-Saharan Africa.
“This substantial injection of capital is a strong indication of continued investor confidence in the ETI,” says Arnold Ekpe, Chief Executive of the Ecobank Group.
In another development, the Ecobank has recently launched an ultra-modern contact centre to improve on service delivery, whilst providing convenience banking to its numerous clients.
The contact centre, first of its kind in the banking industry in the country, with a multilingual staff, will operate 24 hours, to enable its clientele in various parts of the world reach the bank (Ecobank) anytime.
The centre will, as well, provide support to the bank's numerous branches in neighbouring Cote d' Ivoire, Kenya, Cameroon and Nigeria.
“Ecobank's mission of building a world class pan-African bank emphasises delivery of convenient, accessible and reliable services as a key component of our vision. This contact centre is a manifestation of our commitment, as a group, to serving our customers better,” Mr. Patrick Akinwuntan, Managing Director of eProcess International of Ecobank, said at the launch.
Among the services to be provided by the contact centre, include Inbound services (internet banking, blocking of card, card activation, e'statement and e'alert), Dry services (webchat, website, emails, faxes, sms), Quality assurance (training and coaching, call monitoring, CRM monitoring and feedback scheduling, general enquiries, balance enquiries, ATM & card issues), support services (ATM card pick up, cheque book pick up, returned cheque pick up, and data verification).
The aforementioned services, according to officials of Ecobank, would enable the bank to actively tele-market its products and services at the convenience of customers.
“Our investment in the contact centre is a step in the right direction, and we believe it will yield tremendous payoffs, both to the bank and our valued clients. Ecobank believes that what has yielded, and will continue to yield tremendous benefits to institutions, is the exceptional quality of service, and the positive experiences derived from the previous services rendered by an institution,” said Mr. Adegbovega Ojora, Board Member of Ecobank Ghana.
Mr. Samuel Ashitey Adjei, Managing Director of Ecobank Ghana, said the contact centre would reduce time and transportation costs to the various branches, and also ensure that customers have access to the bank's services at their own convenience, and derive the same benefits as from a face-to-face transaction.
“We believe that our contact centre is the voice of our customers and the voice of the bank, and it will enable the bank to gain greater efficiency, improve or provide better customer services, and give the bank a competitive advantage,” noted Mr. Adjei. Source: Daniel Nonor (Email k2dan@yahoo.co.uk) - Ghanaian Chronicle
This investment is part of ETI's ongoing capital raising, continued from 2008 when the company raised US$550 million in equity from an Initial Public offer (IPO), and US$150 million in long-term capital from a number of development finance institutions, including the IFC and FMO, the Netherlands Development Finance Company.
The investment stems from a US$100 million convertible loan that Ecobank secured from IFC in July 2008 to support its growth and diversification strategy in sub-Saharan Africa.
“This substantial injection of capital is a strong indication of continued investor confidence in the ETI,” says Arnold Ekpe, Chief Executive of the Ecobank Group.
In another development, the Ecobank has recently launched an ultra-modern contact centre to improve on service delivery, whilst providing convenience banking to its numerous clients.
The contact centre, first of its kind in the banking industry in the country, with a multilingual staff, will operate 24 hours, to enable its clientele in various parts of the world reach the bank (Ecobank) anytime.
The centre will, as well, provide support to the bank's numerous branches in neighbouring Cote d' Ivoire, Kenya, Cameroon and Nigeria.
“Ecobank's mission of building a world class pan-African bank emphasises delivery of convenient, accessible and reliable services as a key component of our vision. This contact centre is a manifestation of our commitment, as a group, to serving our customers better,” Mr. Patrick Akinwuntan, Managing Director of eProcess International of Ecobank, said at the launch.
Among the services to be provided by the contact centre, include Inbound services (internet banking, blocking of card, card activation, e'statement and e'alert), Dry services (webchat, website, emails, faxes, sms), Quality assurance (training and coaching, call monitoring, CRM monitoring and feedback scheduling, general enquiries, balance enquiries, ATM & card issues), support services (ATM card pick up, cheque book pick up, returned cheque pick up, and data verification).
The aforementioned services, according to officials of Ecobank, would enable the bank to actively tele-market its products and services at the convenience of customers.
“Our investment in the contact centre is a step in the right direction, and we believe it will yield tremendous payoffs, both to the bank and our valued clients. Ecobank believes that what has yielded, and will continue to yield tremendous benefits to institutions, is the exceptional quality of service, and the positive experiences derived from the previous services rendered by an institution,” said Mr. Adegbovega Ojora, Board Member of Ecobank Ghana.
Mr. Samuel Ashitey Adjei, Managing Director of Ecobank Ghana, said the contact centre would reduce time and transportation costs to the various branches, and also ensure that customers have access to the bank's services at their own convenience, and derive the same benefits as from a face-to-face transaction.
“We believe that our contact centre is the voice of our customers and the voice of the bank, and it will enable the bank to gain greater efficiency, improve or provide better customer services, and give the bank a competitive advantage,” noted Mr. Adjei. Source: Daniel Nonor (Email k2dan@yahoo.co.uk) - Ghanaian Chronicle
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