Ecobank to boost EA operations

Despite the harsh economic environment in East Africa, the Togo-based Ecobank Group has vowed to boost its regional operations.

Arnold Ekpe, the bank’s outgoing group chief executive officer, termed the ill fortunes of the bank, which saw its East African subsidiaries return a pre-tax loss of Sh298 million last year compared to Sh256 million the previous period as a common occurrence for any upstart company.