1. FML - YEAR END UN-AUDITED RESULTS FML has released its un-audited Financial Statements for the year ended December 31, 2009 as per the attached.
Issued at Accra, this 26th
day of January, 2010.
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2. ETI - SIGNING OF CO-OPERATION AGREEMENT WITH BANK OF CHINA ETI has informed the Exchange that it has signed a co-operation agreement with the Bank of China. The Bank of China is China’s leading international bank.
One of the features of this agreement between the two banks is that it provides for the establishment of a China desk in one or more of Ecobank’s subsidiaries. These Ecobank subsidiaries will host several Bank of China staff, who will assist Bank of China customers in Africa.
Ecobank already has an alliance relationship with South Africa-based Nedbank.
Issued in Accra, this 26th
day of January, 2010.
3. ETI - OPENING OF SUBSIDIARY IN TANZANIA ETI has informed the Exchange that it has opened a 100% owned banking subsidiary in Tanzania, under the name of Ecobank Tanzania, on January 19, 2010, in line with the overall expansion strategy of the Group..
Tanzania is the 29th country in which Ecobank Group is present.
Issued in Accra, this 26th
day of January, 2010.
4. ETI - OPENING OF REPRESENTATIVE OFFICE IN SOUTH AFRICA ETI has informed the Exchange that it has opened a representative office in South Africa in December 2009, making South Africa the 30th African country in which the pan-African bank has a presence.
The representative office is intended to enable Ecobank better serve the growing number of its customers currently doing business with South African establishments, as well as accompany South African corporations seeking to expand or consolidate business ties with the rest of Africa.
Issued in Accra, this 26th
day of January, 2010.
5. ETI - GRANT FROM BILL GATES FOUNDATION ETI has informed the Exchange that it has received a US$6 million grant from the Bill & Melinda Gates Foundation to promote low-cost savings accounts in rural and poor neighborhoods in Africa. This grant provides Ecobank the opportunity to expand banking services to a broader group of people. The project will start off with a three-year pilot in Ghana and Liberia, two of the thirty countries in Africa where Ecobank has a presence.
This grant to Ecobank is part of the Bill and Melinda Gates Foundation’s Financial Services for the Poor initiative. It works with a wide range of public and private partners to harness technology and innovation in order to bring quality, affordable savings accounts and other financial services to the doorsteps of the poor in developing countries.
The Foundation believes that setting aside small sums in a safe place allows people to guard against risk, build assets and provide opportunities for the next generation.
Issued in Accra, this 26th
day of January, 2010.
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