ECOBANK Transnational Incorporated (ETI), the parent of the Ecobank Group, is targeting to exploit the immense single market opportunities created by the African Continental Free Trade Area (AfCFTA).
The AfCFTA is the world’s largest free trade area bringing together the 55 countries of the African Union and eight regional economic communities.
Established in 2018 and operationalised in January 2021, the AfCFTA creates a market of 1,3 billion people and a combined gross domestic product of US$3,4 trillion. As part of its mandate, the AfCFTA is to eliminate trade barriers and boost intra-Africa trade.
Speaking at ETI’s AGM and EGM in Togo recently, group chairman for Ecobank, Alain Nkontchou, said the group expects to exploit business opportunities within the trading bloc.
The bank has significantly invested in its digital capabilities, including mobile banking, Internet banking, and payment infrastructure.
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