A Review of the Nigerian Energy Industry

ETI signs $100m loan facility agreement with European Investment Bank


24 December 2014, Sweetcrude, Lome – Ecobank Transnational Incorporated, ETI, the Lomé-based parent company of the Ecobank Group, has signed a seven-year USD 100 million loan facility agreement with the European Investment Bank.Ecobank will use this loan to provide some of its subsidiaries with additional lending capacity. It will also finance some of the Group’s strategic capital expenditures. Ecobank continues to contribute positively to the African economy by increasing the levels of credit available to businesses while at the same time generating long-term value for its shareholders.

Ecobank Group Chief Executive Officer Albert Essien, commented: “This funding continues our relationship with the European Investment Bank. It will allow us to continue to consolidate our expanded operations and translate our scale and geographical footprint into added value for our customers. We shall use the financing to maintain credit provision in key economies in Africa thus contributing to the development of the continent.”

About Ecobank
Incorporated in Lome, Togo, Ecobank Transnational Incorporated (ETI) is the parent company of the leading independent pan-African banking group, Ecobank. It currently has a presence in 36 African countries, namely: Angola, Benin, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Congo-Brazzaville , Congo Democratic Republic ,Côte-d’ Ivoire,Equatorial Guinea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia,Malawi, Mali, Mozambique, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Sierra-Leone, South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe. The Ecobank Group is also represented in France through its affiliate EBI SA in Paris. ETI also has representative offices in Dubai-United Arab Emirates, London-UK and Beijing-China. The Group employs over 20,000 people in 40 different countries in over 1,200 branches and offices.
Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organisations, medium, small and micro businesses and individuals.

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