Public Investment Corp. Asks for Ecobank CEO Tanoh to Resign

South Africa’s Public Investment Corp., the biggest shareholder in Togo’s Ecobank Transnational Inc., said it wants the immediate resignation of the lender’s chief executive officer, Thierry Tanoh.

Tanoh used “strange tactics” to stop Ecobank’s board meeting on Feb. 25 and continues to use the “Ecobank platform and shameless abuse of the judicial system of Togo to pursue what we believe to be his own political and personal interests,” Dan Matjila, the money manager’s Pretoria-based chief investment officer, said in a letter to Ecobank interim Chairman Andre Siaka. Matjila forwarded the letter to Bloomberg after a telephone interview today.