Ecobank Transnational Incorporated Ecobank to cut spending in Africa

This was revealed at the bank’s Special Executive General Meeting in Lome over the weekend.

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Ecobank Transnational Incorporated play

Ecobank Transnational Incorporated

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Ecobank Transnational Incorporated has announced it will reduce its operations in the 33 African countries it operates in.

This was revealed at the bank’s Special Executive General Meeting in Lome over the weekend.

The move is to streamline expenditure and ensure that the company operates in an efficient manner.

It is, however, not clear how this will translate into cuts in expenditure or whether the decision will affect Ghana at all.

READ MORE: Ecobank Transnational Incorporated Shareholders criticize board for 600% drop in profits

Executive Group Head of Ecobank Transnational Incorporated, Ade Ayiyemi said the move is to ensure that the bank runs more efficiently.

“ We need to circumspect about every resource  of the firm. And we want to do this across the all our banks across the world. The least we want to do is spend just for spending sake”, he said.

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