Ecobank secures US$150 million term loan facility

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Sam Wakoba
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ecobank-the-future-is-pan-african-600-96833Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated has secured a US$150 million term loan facility from Commerzbank Aktiengesellschaft, Filiale Luxemburg, First Gulf Bank PJSC, Mashreqbank psc and Standard Chartered Bank.

Set to be used for general lending purposes, the was 50 percent oversubscribed, increasing from its original US$100 million launch amount.

Established in 1986 and with approximately US$10 billion in assets today, Ecobank Nigeria ranks as one of the country’s top six banks.

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In a statement, Ecobank Nigeria’s Managing Director, Mr. Jibril Aku said: “This transaction broadens and strengthens Ecobank Nigeria’s base of lending banks. We are particularly encouraged by the response of the international markets, as it reflects confidence in our long-term growth plans.”

ETI has over 1,200 branches and offices in 36 countries in West, Central, East and Southern Africa, as well as in London, Paris, Dubai and Beijing. It is listed on the Lagos, Accra and Abidjan (BRVM) stock exchanges.

 

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Sam Wakoba
Sam Wakoba
http://techmoran.com
Based in Nairobi, Kenya, Sam is a pan-African technology journalist, author, entrepreneur, technology business mentor, judge, educationalist, and a sought-after speaker and panelist across Africa’s innovation ecosystem. He is the convenor of the popular monthly #TechNight evening event and the #StartupEast Awards and Conference, platforms that bring together startup founders, developers, entrepreneurs, investors, content creators, and tech professionals from across the continent. For more than 16 years, Sam has reported on and analysed Africa’s technology landscape, covering some of the continent’s most impactful, and at times controversial policies, programs, investors, co-founders, startups, and corporations. His work is known for its independence, depth, and fairness, with a singular goal of helping build and strengthen Africa’s nascent technology ecosystem. Beyond journalism, Sam is a business analyst and consultant, working with brands, universities, corporates, SMEs, and startups across East Africa, as well as international companies entering the East African market or scaling across Africa. In his free time, he volunteers as a consulting editor and fintech analyst at Business Tech Kenya, a business, technology, and data firm that publishes reports, reviews, and insights on business and technology trends in Kenya. Follow him on X: @SamWakoba
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