Summary of Proposed Investment
Project Number
7348
Company Name
ECOBANK GHANA LTD
Date SPI Disclosed
Mar 5, 1996
Country
Ghana
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jun 19, 1996
Signed : Aug 28, 1996
Invested : Apr 9, 1997
Project Description
REVISED Summary Of Project Information (SPI)
| Project Name | Ecobank (Ghana) Limited |
| Region | Sub-Saharan Africa |
| Sector |
Projected Board DateMarch 29, 1996
Company NameEcobank (Ghana) Limited
Technical Partner and/or Major Shareholders
Ecobank’s major shareholders are as follows: Ecobank Transnational Incorporated (ETI)(58%) and Ashanti Goldfields Corporation (AGC) (20%). ETI is an international institution based in Lomé, Togo, that acts as a holding company for other banks in West Africa (Nigeria, Togo, Benin and Cote d’Ivoire).
Project Cost Including proposed IFC investment
US$7 million (IFC “A” Loan of US$5 million).
Location of project and Description of site
Accra, Ghana
Description of Company and Purpose of Project
Ecobank (Ghana) Limited s a well-run, dynamic merchant bank specializing in money market and securities activities, corporate finance and term lending. The project is aimed at providing Ecobank with the necessary medium-term foreign exchange resources to expand its term lending business in favor of local private sector companies undertaking investment and expansion projects.
Environmental Category and Issues
This is a Category FI project according to IFC’s environmental review procedures. Ecobank will be required to undertake an environmental review of eligible borrower’s environmental performance and each sub-project’s compliance with the Government of Ghana’s environmental, health and safety requirements as well as applicable World Bank policies and guidelines. In addition, IFC will assess Ecobank’s capability to carry out environmental reviews.
The is from the Public Information Center.
| Date SPI sent to PIC: Revised: | February 28, 1996 March 5, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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