Reuters logo
CORRECTED-Africa's Ecobank signs $50 mln loan deal with France's Proparco
December 2, 2013 / 3:00 PM / 4 years ago

CORRECTED-Africa's Ecobank signs $50 mln loan deal with France's Proparco

(Corrects name of French development institution in paragraph 1 to Proparco, from Propaco)

LAGOS, Dec 2 (Reuters) - Africa’s Ecobank said on Monday it had signed a $50 million loan agreement for ten years with French development institution Proparco, to support the growth of its local banking network.

Ecobank, which operates in 35 African countries, said in a statement that the loan would fund regional expansion, including targeting customers on the continent who do not yet have bank accounts.

“Pan-African banking groups ... are entering new market segments, targeting those previously excluded from the banking system,” it said. (Reporting by Chijioke Ohuocha; Editing by Tim Cocks and Mark Potter)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below