Business Reporter

Ecobank Transnational Incorporated, parent company of the Ecobank Group and Old Mutual Emerging Markets, a unit of Old Mutual Group, have announced an enhanced strategic agreement to strengthen existing ties between them. ETI is leading pan-African bank with operations across Africa and while the insurance and asset management giant also commands an extensive footprint across the continent. Both companies have a strong presence in Zimbabwe.Old Mutual Emerging Markets has a bancassurance partnership with Ecobank Group. The latest agreement will grow the existing strategic alliance between the two by offering seamless insurance services to Ecobank clients across selected countries where the two groups have operations.

Clients will benefit mutually though access to a range of financial services that include life insurance, savings and short-term insurance solutions across a greater network on the African continent.

Ecobank group chief executive Ade Ayeyemi said plans for the integrated model include providing access to Old Mutual solutions for Ecobank’s banking operations across selected countries.

“This is a productive and valued partnership between two pan-African institutions to provide complete financial services solutions to our customers,” Mr Adeyeyemi said.

Ralph Mupita, CEO of Old Mutual Emerging Markets, said: “It is in our mutual interest to ensure that this alliance (with Ecobank) grows from strength to strength, as we now look to complement Ecobank’s range of banking services to its customers with Old Mutual’s trusted financial products across the Ecobank network on the continent.”

Signed by both company chief executives at the Ecobank Group’s Lome, Togo, head office on Thursday last week, the enhanced agreement goes into force with immediate effect.

The Ecobank Group employs over 20 000 people in 40 different African countries and operates over 1 200 branches and offices.

It is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals among its client range.

Ecobank currently has a presence in 36 African countries including South Africa, South Sudan, Tanzania, Togo, Uganda, Zambia and Zimbabwe Angola, Benin, Burkina Faso.

Old Mutual operates primarily in the long-term savings and investment market. The group’s primary objective is to preserve and grow the money entrusted to it by its expansive customers, either directly or through their advisors.

In addition to having operations in South Africa since 1845, Old Mutual currently has operations across 19 countries.

Old Mutual’s footprint on the continent includes operations in Ghana, Nigeria, Kenya, Malawi, Namibia, Swaziland, Zimbabwe, Uganda, Tanzania, Rwanda and South Sudan.

You Might Also Like

Comments

Take our Survey

We value your opinion! Take a moment to complete our survey