• Monday, June 24, 2024
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Rushed growth, poor governance at Ecobank poses serious concerns, IMF says

Sub-Saharan Africa to reap 10% of $16trn global revenue from minerals – IMF

Rushed growth and poor governance at pan-African lender Ecobank poses serious concerns, the International Monetary Fund (IMF) said in a report about banks operating across African borders.

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The Fund said Ecobank Nigeria’s “relatively weak capital position remains a concern” and that rapid loan growth at the bank, which is a subsidiary of Ecobank Transnational Incorporated, raises suspicion of reckless lending.