Ecobank Opens New Branch In Equatorial Guinea
MALABO, Equatorial Guinea, Jan. 10, 2013
Pan-African Bank to aid West African nation's efforts to integrate its
financial market with the rest of the continent.
MALABO, Equatorial Guinea, Jan. 10, 2013 /PRNewswire-USNewswire/ -- Ecobank
Transnational Incorporated (ETI), a pan-African bank based in Togo with
operations in West, Central, East and Southern Africa, has opened an affiliate
in the capital city of Malabo to serve as a credit institution in Equatorial
Guinea. The licensing of Ecobank is part of the government's efforts to
integrate the country's economy more closely with other African states,
support the development of the economy, and improve access to financing.
The opening of Ecobank aligns with the government's implementation of the
industrialization project and economic development plans, diversification of
the economy to reduce poverty, strengthening transparency in public finance
management and good governance, said Vicente Ehate Tomi, Equatorial Guinea's
"We are pleased that the authorities of Equatorial Guinea have issued Ecobank
with a license to operate as the fifth bank in the country and to support the
development of the economy with access to financing," said Thierry Tanoh,
Ecobank's Chief Executive Officer. Mr. Tanoh said that Ecobank Equatorial
Guinea completed the bank's presence in all the member states of the Monetary
and Economic Community of Central Africa. "Additionally, our presence in
Equatorial Guinea will give the citizens access to Ecobank's footprint across
Ecobank currently operates in 32 countries throughout the African continent.
It has a licensed operation in Paris and representatives in Johannesburg,
Dubai and London. Ecobank Equatorial Guinea is the 33^rd affiliate of the
Group in Africa.
About Equatorial Guinea
The Republic of Equatorial Guinea (Republica de Guinea Ecuatorial) is the only
Spanish-speaking country in Africa, and one of the smallest nations on the
continent. In the late-1990s, American companies helped discover the country's
oil and natural gas resources, which only within the last five years began
contributing to the global energy supply. Equatorial Guinea is now working to
serve as a pillar of stability and security in its region of West Central
Africa. The country hosted the 2011 Summit of the African Union. For more
information, visit http://www.guineaecuatorialpress.com.
SOURCE Republic of Equatorial Guinea
Contact: Matt Lauer, +1-703-463-1841
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