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Ecobank has secured $120 million to support various sectors of the economy this year

Tinashe Makichi Business Reporter
Ecobank Zimbabwe will continue harnessing significant lines of credit from its parent company, Ecobank Transnational Inc and from external financiers to support agriculture, infrastructure, energy and mining sectors, a company official said. Ecobank came into the country in 2011 after taking over Premier Banking Corporation.

The bank has since January this year injected about $120 million towards supporting different economic sectors.
Ecobank managing director Mr Daniel Sackey said the bank would continue looking for growth opportunities in line with Government’s Zimbabwe Agenda for Sustainable Socio-Economic Transformation.

“The bank will continue to pursue feasible growth opportunities in Zimbabwe that are in line with Government economic blueprint to grow Ecobank to become number one bank in the country.

“Ecobank’s support to Zimbabwe’s economic sectors was over $120 million covering agriculture, infrastructure, energy, mining, service and other sectors,” said Mr Sackey.

Ecobank Zimbabwe secured lines of credit from the parent company and offshore financiers to support local companies and the Government programmes.

The Pan-African bank, which is headquartered in Togo, has expanded its local branch network to 14 across the country.