Ecobank Transnational Incorporated, the parent of leading pan-African group, Ecobank Group, concluded its 32nd Annual General Meeting and Extraordinary General Meeting in Lagos, Nigeria, on Monday.
For the first time in the history of ETI, and in line with preventive measures to curb the spread of COVID-19, attendance at the General Meetings was mainly by proxies in accordance with the Articles of Association of the company.
A statement from the bank on Monday quoted Ecobank Group Chairman, Emmanuel Ikazoboh, as saying, “We are in the final lap of our five-year ‘Roadmap to Leadership’, having laid and achieved much improved business and operational foundations, leadership in digital products with scalability, strong corporate governance and continued expense discipline.
“We continue to focus on making substantial strides towards ensuring a return on equity above the cost of capital across the Group despite the challenging economic conditions, especially with the COVID-19, whilst also maintaining our commitment to driving economic development and financial integration across Africa.”
The chairman added, “This was my last AGM, as I have now completed my tenure as director and Chairman. As I retire, it has been a privilege for me to have served this great institution and I am particularly proud of what we have achieved. I am further assured and confident that my able successor as Chairman, Mr. Alain Nkontchou, will continue to lead the Board in our journey to leadership.
“The world has its eyes on Africa, and we are positioning our Bank in a way that continues to ensure its commitment to, and development of the continent. I will remain a strong ambassador of this great institution and its ideals.”
The Chief Executive Officer, Ecobank Group, Ade Adeyemi said, “I must first and foremost, pay tribute to our outgoing Chairman, Mr. Emmanuel Ikazoboh, who has served the group diligently during his tenure. On behalf of Management, I extend our immense admiration for the invaluable stewardship, counsel, strategic expertise and oversight that he so willingly provided.
“I also seize the opportunity to congratulate and welcome on board our incoming Chairman Mr. Alain Nkontchou, and look forward to working with him as he leads the Board. 2019 was a year of substantial progress for the Group on multiple fronts as we broadened our innovative product range with our upgraded core banking application platform, increased customer numbers, established new partnerships and initiated programmes to transform customer experience and embed the desired conduct, culture and ethics throughout the organisation.”
