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At NGX, Ecobank Group CEO assures of value delivery, accountability to shareholders
By Prince Benson Davies
Group Chief Executive Officer (GCEO) of Ecobank Transnational Incorporated (ETI), Jeremy Awori, has restated the group’s commitment to deliver greater value to its customers and ensure accountability to its shareholders across 35 countries in Africa where it operates.
The Group Chief Executive Officer of the leading pan-African bank made the pledge when he was introduced as the new GCEO of Ecobank to the capital market during his visit to the Nigerian Exchange (NGX) in Lagos yesterday.
Awori, who led a delegation of Ecobank to the NGX, met the Chief Executive Officer (CEO) of the NGX, Temi Popoola and thereafter joined brokers to ring the gong on the floor of the bourse, signalling the end of the day’s trading session.
Speaking at the event, Awori said: “Participating in the closing gong ceremony at the Nigerian Exchange is a great honour for me and the Ecobank Group. We commend the great work the exchange has accomplished to forge a vibrant capital market. As a listed company on the NGX, we must continue delivering value to our shareholders, while remaining accountable to stakeholders.
“We are excited about the growth opportunities in Nigeria. We have the largest pan-African footprint across 35 countries in Africa and are uniquely positioned to seize these growth opportunities for the benefit of our customers and clients.
“Furthermore, we recognise that responding to the evolving needs of Nigerian customers and clients is critical to delivering our pan-African strategy. We are therefore determined to double down our efforts to support the growth of Ecobank Nigeria, which is a core business for the Ecobank Group.”
Speaking further, he said: “Ensuring we bring the market and the entire investment community to a clear understanding of our strategy and progress, as well as ultimately delivering returns to shareholders above the cost of equity, is fundamental for the market to reward us with a stock price that reflects Ecobank’s intrinsic value.”
The shares of Ecobank Transnational Incorporated, parent company of the Ecobank Group, are traded on three stock exchanges: the NGX, the Ghana Stock Exchange in Accra, Ghana and the Bourse Régionale des Valeurs Mobilières in Abidjan, Côte d’Ivoire.
In 2022, ETI’s share price rose on all three exchanges, with its shares gaining 22 percent on the NGX, significantly above the 3 percent rise of the NGX’s Banking 10 Index over the same period.
Those who attended the event with the GCEO are Bola Adesola, Chairman of Ecobank Nigeria; Bolaji Lawal, Regional Executive and Managing Director, Ecobank Nigeria; Carol Oyedeji, Deputy Managing Director, Ecobank Nigeria; Ayo Adepoju, Group Chief Financial Officer; Madibinet Cisse, Group General Counsel, Cecilia Akintomide, Special Executive Advisor to the Group CEO and Dr. Bunmi Bajomo, Group Head, Corporate Bank and Chief Operating Officer (COO) of Corporate and Investment Banking, Ecobank Group.
“The symbolic event marked the end of trading for the day, but for us, it is another important milestone achieved towards our continued objective of increasing shareholder value,” Awori added.