ETI Commits To SMEs, Fintech Growths In Africa

The Group chief executive officer, Ecobank Transnational Incorporated (ETI), Mr. Jeremy Awori, said the Pan-African financial institution is much aligned in its key role objectives of driving Small and medium-sized enterprises (SMEs), Fintech, and market development growths in Africa.

Awori stated this at the Closing Gong Ceremony introducing him as the new Group CEO of ETI to the capital market held yesterday in Lagos.

Awori said, the financial institution is poised at remaining leader in the payment system space in Africa, where it has inherent strength.

Also, the Nigerian Exchange Limited (NGX) and Ecobank Transnational Incorporated (ETI) expressed mutual interest in partnering on sustainability initiatives and overall market development.

According to him, Nigeria, being the largest economy in the African region was a core market for SMEs.

“As a pan-African bank, we are working on tapping value from the African Continental Free Trade Area Agreement (AfCFTA). We will continue to create more value in the country amidst the developments in technology, payments and SMEs,” he said.

Commending NGX for its leadership role and innovations including the NGX Technology Board, Exchange Traded Funds market development, and sustainability drive, the Awori stated that ETI would actively work with the Exchange on developmental initiatives.

“We will be building up our corporate and SME banking businesses as we are focused on growth transformation and maximising value for shareholders and investors,” he said.

The chairman, Ecobank Nigeria, Mrs Bola Adesola, stated that, the domestic business would partner with NGX and was open to more collaborations.

The CEO, NGX, Mr Temi Popoola commended ETI for its market leadership and focus on Small and Medium Enterprise(SME) banking, saying, “this aligns with our goal at NGX to do more for SMEs as we believe they are the engine of economic growth.”

Popoola said: “this has led to a few of our partnerships including the Memorandum of Understanding with the Bank of Industry (BoI). I also want to commend ETI for its work on sustainability and for playing an important leadership role in setting an example for the market.”

The CEO stated that the Exchange had notable plans in sustainability, especially, around carbon emissions reduction and was exploring partnerships with organisations like ETI to move the capital market further on the path to Net-Zero.