Business
ECOBANK Group, the leading pan-African financial institution present in 35 African countries, announced the joint winners of its annual Group Chairman’s Sustainability Award at a ceremony held following the Ecobank Transnational Incorporated, ETI, Annual General Meeting. The prestigious award recognises affiliates driving positive environmental and social change across the continent.
Ecobank Ghana and Ecobank Zimbabwe were honoured for their exceptional projects. Ecobank Ghana invested US$24 million in partnership with Electrochem Ghana Ltd to rehabilitate existing, and create new, salt pans – aiming for over 1 million tons of salt annually.
The initiative boosts economic growth and has employed 3,000 young people, with 40% being women. The project also improves access to safe water and sanitation in Ghana.
Ecobank Zimbabwe launched Ellevate 2.0 to support women-led and youth entrepreneurs. They opened 400 accounts and provided US$500,000 in loans. The programme has also connected over 2,000 SMEs, facilitating knowledge sharing and access to global trade networks.
“Over recent years, Ecobank has positioned itself at the forefront of sustainable finance, raising 350 million USD through Tier Two Sustainability Notes and earning numerous accolades. A groundbreaking milestone was also achieved with the signing of the first-ever Sustainability Linked Loan for a sub-Saharan financial institution, spearheaded by Proparco last year,” said Alain Nkontchou, Ecobank Group Chairman.
“Sustainability is crucial for Africa, a continent rich in natural resources yet vulnerable to environmental and social challenges. By prioritising sustainable practices, we aim to support economic growth, enhance resilience against climate change, and promote social well-being. Our commitment to sustainability is not only a moral imperative but a strategic business approach that has proven immensely valuable.”
The Group Chairman’s Sustainability Award, inaugurated in 2018, plays a pivotal role in advancing Ecobank’s sustainability agenda. This year’s winners exemplify the innovative and impactful initiatives driving this mission forward.
Ecobank’s sustainability journey continues to transform the banking landscape, creating lasting value for its business and customers. To find out more about its actions and initiatives, please read the Bank’s latest Sustainability Report and the 2023 Annual Report at www.Ecobank.com.
A.I
June 11, 2024
Tags: Alain Nkontchou Ecobank Group
