Ecobank Group to strengthen Kenyan subsidiary

Kenya: Togolese-based Ecobank Transnational Incorporated (ETI) has announced plans to revamp its operations in Kenya by injecting fresh capital. The idea is to make Ecobank Kenya, the group’s hub in the East Africa region.

This comes at a time when Ecobank Kenya, is gaining its foothold in Kenya after acquiring the former East African Building Society (EABS). Although Ecobank operations in East Africa managed to reduce its operating loss marginally in 2013, strategic challenges remain. This is according to the Group’s annual report, 2013.