ETI commits to SME, Fintech growth in Africa
Group Managing Director, Ecobank Transnational Incorporated (ETI), Jeremy Awori, said the pan-African financial institution is very much aligned with its key role objectives of running Small and Medium Enterprises (SMEs), Fintech and market development. growth in Africa.
Awori stated this at the closing ceremony of Gong, introducing him as the new Group CEO of ETI to the capital market held yesterday in Lagos.
Awori said, the financial institution is poised to remain a leader in the payment system in Africa, where it has inherent strength.
Nigerian Exchange Limited (NGX) and Ecobank Transnational Incorporated (ETI) also expressed mutual interest in collaborating on sustainability initiatives and general market development.
According to him, Nigeria, being the largest economy in the African region, was a core market for SMEs.
“As a pan-African bank, we are working to leverage value from the African Continental Free Trade Agreement (AfCFTA). We will continue to create more value in the country amid developments in technology, payments and SMEs,” he said.
Awori praised NGX for its leadership and innovations, including the NGX Technology Board, Exchange Traded Funds market development and sustainability operations, and stated that ETI would actively collaborate with the Exchange on development initiatives.
“We will build our corporate and SME banking businesses as we are focused on growth transformation and maximizing value for shareholders and investors,” he said.
The Chairman, Ecobank Nigeria, Mrs. Bola Adesola, stated that the domestic business would partner with NGX and was open to more collaborations.
Managing Director, NGX, Mr Temi Popoola commended ETI for its market leadership and focus on small and medium enterprise (SME) banking, saying: “this aligns with our aim at NGX to do more for SMEs as we believe they are the engine in economic growth.”
Popoola said: “this has led to some of our partnerships, including the Memorandum of Understanding with the Bank of Industry (BoI). I would also like to commend ETI for its work on sustainability and for playing an important leadership role in setting an example for the market. “
The CEO stated that the exchange had remarkable plans in sustainability, particularly around the reduction of carbon emissions and was exploring partnerships with organizations such as ETI to move the capital market further on the path towards Net-Zero.
