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Vol 54 No 19

Published 20th September 2013


Boardroom battles hit Ecobank

Tough decisions face one of Africa’s most respected banks: its Chairman and Chief Executive are under scrutiny for claimed malpractice

Directors of Ecobank Transnational Incorporated (ETI), Africa’s biggest cross-border lender, are due to hold another emergency meeting on 20 September to resolve the crisis over claims that its Chairman and Chief Executive have chronically mismanaged the bank. Opinion on the board seems evenly divided although Ecobank’s founder, Gervais Koffi Djondo, and at least three of the bank’s institutional shareholders are understood to favour the early exit of the pair to resolve the crisis.

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