Ecobank (Uganda)
Encyclopedia
Ecobank is a commercial bank
in Uganda
. The bank began operations in January 2009 as a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.
, the leading independent pan-African bank, headquartered in Lomé
, Togo
with affiliates in West Africa
, Central Africa
and East Africa
. Ecobank
, which was established in 1985, has grown to a network of over 600 branches, employing over 10,000 people, with offices in 29 countries including Benin
, Burkina Faso
, Burundi
, Cameroon
, Cape Verde
, Central African Republic
, Chad
, Republic of Congo, Democratic Republic of Congo, Gambia, Ghana
, Guinea
, Guinea Bissau, Ivory Coast, Kenya
, Liberia
, Mali
, Malawi
, Niger
, Nigeria
, Rwanda
, Sao Tome
, Senegal
, Sierra Leone
, Togo
, Uganda
and Zambia
.
) is the parent company of the Ecobank
Group which includes the following specialized subsidiaries:
The stock of ETI
is traded on three African stock exchanges, namely; the Ghana Stock Exchange
(GSE), the Nigerian Stock Exchange (NSE
) and the BRVM
stock exchange in Abidjan
, Ivory Coast.
owns a significant portion of the shares of the company. Other investors include Charles Mbire
, a Director of the bank and according to press reports, the wealthiest indigenous Uganda
n with a net worth in excess of US$60 million.
es in Uganda, eight of them around Kampala
. Plans are underway to open more branches all over the country and to expand the branch network to a total of eighty (80) branches within the next five (5) years.
The current branch network includes the following locations:
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
. The bank began operations in January 2009 as a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.
Ecobank network
Ecobank (Uganda) is a member of EcobankEcobank
Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking group with a presence in more African countries than any other bank...
, the leading independent pan-African bank, headquartered in Lomé
Lomé
Lomé, with an estimated population of 737,751, is the capital and largest city of Togo. Located on the Gulf of Guinea, Lomé is the country's administrative and industrial center and its chief port. The city exports coffee, cocoa, copra, and palm kernels...
, Togo
Togo
Togo, officially the Togolese Republic , is a country in West Africa bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, on which the capital Lomé is located. Togo covers an area of approximately with a population of approximately...
with affiliates in West Africa
West Africa
West Africa or Western Africa is the westernmost region of the African continent. Geopolitically, the UN definition of Western Africa includes the following 16 countries and an area of approximately 5 million square km:-Flags of West Africa:...
, Central Africa
Central Africa
Central Africa is a core region of the African continent which includes Burundi, the Central African Republic, Chad, the Democratic Republic of the Congo, and Rwanda....
and East Africa
East Africa
East Africa or Eastern Africa is the easterly region of the African continent, variably defined by geography or geopolitics. In the UN scheme of geographic regions, 19 territories constitute Eastern Africa:...
. Ecobank
Ecobank
Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking group with a presence in more African countries than any other bank...
, which was established in 1985, has grown to a network of over 600 branches, employing over 10,000 people, with offices in 29 countries including Benin
Benin
Benin , officially the Republic of Benin, is a country in West Africa. It borders Togo to the west, Nigeria to the east and Burkina Faso and Niger to the north. Its small southern coastline on the Bight of Benin is where a majority of the population is located...
, Burkina Faso
Burkina Faso
Burkina Faso – also known by its short-form name Burkina – is a landlocked country in west Africa. It is surrounded by six countries: Mali to the north, Niger to the east, Benin to the southeast, Togo and Ghana to the south, and Côte d'Ivoire to the southwest.Its size is with an estimated...
, Burundi
Burundi
Burundi , officially the Republic of Burundi , is a landlocked country in the Great Lakes region of Eastern Africa bordered by Rwanda to the north, Tanzania to the east and south, and the Democratic Republic of the Congo to the west. Its capital is Bujumbura...
, Cameroon
Cameroon
Cameroon, officially the Republic of Cameroon , is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the...
, Cape Verde
Cape Verde
The Republic of Cape Verde is an island country, spanning an archipelago of 10 islands located in the central Atlantic Ocean, 570 kilometres off the coast of Western Africa...
, Central African Republic
Central African Republic
The Central African Republic , is a landlocked country in Central Africa. It borders Chad in the north, Sudan in the north east, South Sudan in the east, the Democratic Republic of the Congo and the Republic of the Congo in the south, and Cameroon in the west. The CAR covers a land area of about ,...
, Chad
Chad
Chad , officially known as the Republic of Chad, is a landlocked country in Central Africa. It is bordered by Libya to the north, Sudan to the east, the Central African Republic to the south, Cameroon and Nigeria to the southwest, and Niger to the west...
, Republic of Congo, Democratic Republic of Congo, Gambia, Ghana
Ghana
Ghana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south...
, Guinea
Guinea
Guinea , officially the Republic of Guinea , is a country in West Africa. Formerly known as French Guinea , it is today sometimes called Guinea-Conakry to distinguish it from its neighbour Guinea-Bissau. Guinea is divided into eight administrative regions and subdivided into thirty-three prefectures...
, Guinea Bissau, Ivory Coast, Kenya
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
, Liberia
Liberia
Liberia , officially the Republic of Liberia, is a country in West Africa. It is bordered by Sierra Leone on the west, Guinea on the north and Côte d'Ivoire on the east. Liberia's coastline is composed of mostly mangrove forests while the more sparsely populated inland consists of forests that open...
, Mali
Mali
Mali , officially the Republic of Mali , is a landlocked country in Western Africa. Mali borders Algeria on the north, Niger on the east, Burkina Faso and the Côte d'Ivoire on the south, Guinea on the south-west, and Senegal and Mauritania on the west. Its size is just over 1,240,000 km² with...
, Malawi
Malawi
The Republic of Malawi is a landlocked country in southeast Africa that was formerly known as Nyasaland. It is bordered by Zambia to the northwest, Tanzania to the northeast, and Mozambique on the east, south and west. The country is separated from Tanzania and Mozambique by Lake Malawi. Its size...
, Niger
Niger
Niger , officially named the Republic of Niger, is a landlocked country in Western Africa, named after the Niger River. It borders Nigeria and Benin to the south, Burkina Faso and Mali to the west, Algeria and Libya to the north and Chad to the east...
, Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
, Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
, Sao Tome
São Tomé
-Transport:São Tomé is served by São Tomé International Airport with regular flights to Europe and other African Countries.-Climate:São Tomé features a tropical wet and dry climate with a relatively lengthy wet season and a short dry season. The wet season runs from October through May while the...
, Senegal
Senegal
Senegal , officially the Republic of Senegal , is a country in western Africa. It owes its name to the Sénégal River that borders it to the east and north...
, Sierra Leone
Sierra Leone
Sierra Leone , officially the Republic of Sierra Leone, is a country in West Africa. It is bordered by Guinea to the north and east, Liberia to the southeast, and the Atlantic Ocean to the west and southwest. Sierra Leone covers a total area of and has an estimated population between 5.4 and 6.4...
, Togo
Togo
Togo, officially the Togolese Republic , is a country in West Africa bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, on which the capital Lomé is located. Togo covers an area of approximately with a population of approximately...
, Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
and Zambia
Zambia
Zambia , officially the Republic of Zambia, is a landlocked country in Southern Africa. The neighbouring countries are the Democratic Republic of the Congo to the north, Tanzania to the north-east, Malawi to the east, Mozambique, Zimbabwe, Botswana and Namibia to the south, and Angola to the west....
.
Parent company
Ecobank Transnational Inc. (ETIEcobank
Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking group with a presence in more African countries than any other bank...
) is the parent company of the Ecobank
Ecobank
Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking group with a presence in more African countries than any other bank...
Group which includes the following specialized subsidiaries:
- Ecobank Development Corporation (EDC) - LoméLoméLomé, with an estimated population of 737,751, is the capital and largest city of Togo. Located on the Gulf of Guinea, Lomé is the country's administrative and industrial center and its chief port. The city exports coffee, cocoa, copra, and palm kernels...
, TogoTogoTogo, officially the Togolese Republic , is a country in West Africa bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, on which the capital Lomé is located. Togo covers an area of approximately with a population of approximately... - EDC Investment Corporation - AbidjanAbidjanAbidjan is the economic and former official capital of Côte d'Ivoire, while the current capital is Yamoussoukro. it was the largest city in the nation and the third-largest French-speaking city in the world, after Paris, and Kinshasa but before Montreal...
, Ivory Coast - EDC Investment Corporation - DoualaDoualaDouala is the largest city in Cameroon and the capital of Cameroon's Littoral Province. Home to Cameroon's largest port and its major international airport, Douala International Airport, it is the commercial capital of the country...
, CameroonCameroonCameroon, officially the Republic of Cameroon , is a country in west Central Africa. It is bordered by Nigeria to the west; Chad to the northeast; the Central African Republic to the east; and Equatorial Guinea, Gabon, and the Republic of the Congo to the south. Cameroon's coastline lies on the... - EDC Securities Limited - LagosLagosLagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...
, NigeriaNigeriaNigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in... - EDC Stockbrokers Limited - AccraAccraAccra is the capital and largest city of Ghana, with an urban population of 1,658,937 according to the 2000 census. Accra is also the capital of the Greater Accra Region and of the Accra Metropolitan District, with which it is coterminous...
, GhanaGhanaGhana , officially the Republic of Ghana, is a country located in West Africa. It is bordered by Côte d'Ivoire to the west, Burkina Faso to the north, Togo to the east, and the Gulf of Guinea to the south... - Ecobank Asset Management - AbidjanAbidjanAbidjan is the economic and former official capital of Côte d'Ivoire, while the current capital is Yamoussoukro. it was the largest city in the nation and the third-largest French-speaking city in the world, after Paris, and Kinshasa but before Montreal...
, Ivory Coast - e-Process International SA - LoméLoméLomé, with an estimated population of 737,751, is the capital and largest city of Togo. Located on the Gulf of Guinea, Lomé is the country's administrative and industrial center and its chief port. The city exports coffee, cocoa, copra, and palm kernels...
, TogoTogoTogo, officially the Togolese Republic , is a country in West Africa bordered by Ghana to the west, Benin to the east and Burkina Faso to the north. It extends south to the Gulf of Guinea, on which the capital Lomé is located. Togo covers an area of approximately with a population of approximately... - ECV Servicios - PraiaPraiaPraia , is the capital and largest city of Cape Verde, an island nation in the Atlantic Ocean west of Senegal. It lies on the southern coast of Santiago island in the Sotavento Islands group. It is the island's ferry port and is home to one of the nation’s four international airports...
, Cape VerdeCape VerdeThe Republic of Cape Verde is an island country, spanning an archipelago of 10 islands located in the central Atlantic Ocean, 570 kilometres off the coast of Western Africa...
The stock of ETI
Ecobank
Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking group with a presence in more African countries than any other bank...
is traded on three African stock exchanges, namely; the Ghana Stock Exchange
Ghana Stock Exchange
The Ghana Stock Exchange is the principal stock exchange of Ghana. The exchange was incorporated in July 1989 with trading commencing in 1990. It currently has around 30 listed companies and 2 corporate bonds. All types of securities can be listed. Criteria for listing include capital adequacy,...
(GSE), the Nigerian Stock Exchange (NSE
NSE
NSE may refer to:education* Norwegian School of Economicsstock exchanges* Nagoya Stock Exchange in Japan, * Nairobi Stock Exchange in Kenya, * Nigerian Stock Exchange in Lagos, Nigeria * National Stock Exchange of India,...
) and the BRVM
BRVM
The Bourse Régionale des Valeurs Mobilières SA or BRVM, is a regional stock exchange serving the following west African countries: Benin Burkina Faso Guinea Bissau Côte d'Ivoire Mali Niger Senegal Togo....
stock exchange in Abidjan
Abidjan
Abidjan is the economic and former official capital of Côte d'Ivoire, while the current capital is Yamoussoukro. it was the largest city in the nation and the third-largest French-speaking city in the world, after Paris, and Kinshasa but before Montreal...
, Ivory Coast.
Ownership
The exact percentage share ownership of Ecobank (Uganda) is not publicly known but EcobankEcobank
Ecobank, whose official name is Ecobank Transnational Inc., is a pan-African banking group with a presence in more African countries than any other bank...
owns a significant portion of the shares of the company. Other investors include Charles Mbire
Charles Mbire
Charles Mbire is a businessman, entrepreneur and industrialist in Uganda. He is reported to be the wealthiest indigenous Ugandan, with an estimated net worth in excess of US$65 million, as of December 2008.-Background:...
, a Director of the bank and according to press reports, the wealthiest indigenous Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
n with a net worth in excess of US$60 million.
Board of directors
The following individuals sit on the Board of Directors of Ecobank (Uganda):- David Twahirwa, Chairman
- Charles Mbire, DirectorBoard of directorsA board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
- Robina Shonubi, DirectorBoard of directorsA board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
- Albert Essien, DirectorBoard of directorsA board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
- Micheal Monari, Managing Director
Management team
Micheal Monari is the Managing Director of Ecobank (Uganda). He was appointed to tat position in October 2011, replacing Dele Alabi, who was relocated to Ecobank (Nigeria).Branch Network
As of December 2011, Ecobank (Uganda) has nine (9) branchBranch
A branch or tree branch is a woody structural member connected to but not part of the central trunk of a tree...
es in Uganda, eight of them around Kampala
Kampala
Kampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
. Plans are underway to open more branches all over the country and to expand the branch network to a total of eighty (80) branches within the next five (5) years.
The current branch network includes the following locations:
- Bombo Road Branch - Bombo Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Entebbe Airport Branch - Entebbe International AirportEntebbe International AirportEntebbe International Airport is the principal international airport of Uganda.-Location:It is located near the town of Entebbe, on the shores of Lake Victoria, and about from the capital, Kampala...
- Head 0ffice Branch - Parliament Avenue, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Kikuubo Branch - Nakivubo Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Mukono Branch - Jinja RoadKampala-Jinja HighwayKampala-Jinja Highway is a road in Uganda, connecting the cities of Kampala and Jinja. Sometimes referred to as Kampala-Jinja Road, it is a busy road, with several towns, trading centers and other landmarks along the way.-Location:...
, Mukono - Ndeeba Branch - Masaka Road, NdeebaNdeeba-Location:Ndeeba is located on the southwestern edge of the city of Kampala. It is bordered by Mengo to the north, Katwe to the northeast, Kibuye to the east, Makindye and Najjanankumbi to the southeast, Kabowa to the south, Mutundwe to the west and Lubaga to the northwest...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Oasis Mall Branch - Oasis Mall, Yusuf Lule Road, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen...
- Wandegeya Branch - Bombo Road, WandegeyaWandegeyaWandegeya is a neighborhood within the city of Kampala, Uganda's capital and largest metropolitan area.The name is derived from the weaver birds, , which used to inhabit the area prior to the 1990s.-Location:...
, KampalaKampalaKampala is the largest city and capital of Uganda. The city is divided into five boroughs that oversee local planning: Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division and Lubaga Division. The city is coterminous with Kampala District.-History: of Buganda, had chosen... - Amuru Branch - AmuruAmuruAmuru is a town in Northern Uganda. It is the main municipal, administrative and commercial centre of Amuru District. The district is named after the town.-Location:...
External links
- Ecobank Website
- List of banks in Uganda
- Banking in UgandaBanking in Uganda-The early years:Prior to Uganda’s independence in 1962, Government-owned institutions dominated most banking in Uganda. In 1966 the Bank of Uganda, which controlled the issue of currency and managed foreign exchange reserves, became the Central Bank. Uganda Commercial Bank, which had fifty...
