About Ecobank
Ecobank is a company based in Lome (Togo) founded in 1985 by Adeyemi Lawson.. Ecobank has raised $7.05 million across 10 funding rounds from investors including Africa Finance Corporation, Afreximbank and FMO. The company has 14,560 employees as of December 31, 2024. Ecobank has completed 2 acquisitions, including Oceanic Bank and Oceanic Bank Nigeria. Ecobank operates in a competitive market with competitors including Scotiabank, Orabank, Kreissparkasse Biberach, The ECOWAS Bank for Investment and Development and Fidelity Bank, among others.
- Headquarter Lome, Togo
- Employees 14560 as on 31 Dec, 2024
- Founders Adeyemi Lawson
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Ecobank Transnational, Inc.
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Annual Revenue
$0 (USD)134.08as on Dec 31, 2024
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Net Profit
$0 (USD)168.74as on Dec 31, 2024
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EBITDA
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Total Equity Funding
$7.05 M (USD)
in 10 rounds
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Latest Funding Round
$250 M (USD), Debt – Conventional
Mar 12, 2024
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Investors
Africa Finance Corporation
& 12 more
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Employee Count
14560
as on Dec 31, 2024
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Investments & Acquisitions
Oceanic Bank
& 1 more
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IPO & Listings of Ecobank
Ecobank is a publicly listed company on the NSENG with ticker symbol ETI in Nigeria, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
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Software Development Team
39 people
Leadership Team
23 people
Finance and Accounting
12 people
Group Team
8 people
Legal and Compliance
6 people
Head Team
5 people
Senior Team
4 people
Data Analysis and Operations Team
4 people
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Funding Insights of Ecobank
Ecobank has successfully raised a total of $7.05M across 10 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $250 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 10
- Last Round Debt – Conventional — $250.0M
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First Round
First Round
(01 Jun 1998)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Debt – Conventional - Ecobank | Valuation |
investors |
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| Sep, 2021 | Amount | Post-IPO - Ecobank | Valuation |
investors |
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| Apr, 2019 | Amount | Debt – Conventional - Ecobank | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ecobank
Ecobank has secured backing from 13 investors, including institutional and venture fund investors. Prominent investors backing the company include Africa Finance Corporation, Afreximbank and FMO. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Private equity and debt investments are managed across Africa.
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Founded Year | Domain | Location | |
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Development financing is provided for entrepreneurial ventures in emerging markets.
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Founded Year | Domain | Location | |
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An African-focused asset management firm established in 2008.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ecobank
Ecobank has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Oceanic Bank and Oceanic Bank Nigeria. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Commercial banking services are provided to clients in Nigeria.
|
2010 | ||||
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Commercial banking services are provided throughout Nigeria.
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1990 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Ecobank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ecobank Comparisons
Competitors of Ecobank
Ecobank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Scotiabank, Orabank, Kreissparkasse Biberach, The ECOWAS Bank for Investment and Development and Fidelity Bank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Commercial banking services are provided internationally by Scotiabank.
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| domain | founded_year | HQ Location |
Commercial banking services are provided in Benin since 1988.
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| domain | founded_year | HQ Location |
Provides retail and business banking services with online platforms and financial products.
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| domain | founded_year | HQ Location |
Operates as a commercial bank providing deposits, loans, and payment services to customers.
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| domain | founded_year | HQ Location |
Commercial banking services are provided to clients in Nigeria.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ecobank
Frequently Asked Questions about Ecobank
When was Ecobank founded?
Ecobank was founded in 1985 and raised its 1st funding round 13 years after it was founded.
Where is Ecobank located?
Ecobank is headquartered in Lome, Togo.
Who is the current CEO of Ecobank?
Albert Essien is the current CEO of Ecobank.
Is Ecobank a funded company?
Ecobank is a funded company, having raised a total of $7.05M across 10 funding rounds to date. The company's 1st funding round was a Debt – Conventional of $450M, raised on Jun 01, 1998.
How many employees does Ecobank have?
As of Dec 31, 2024, the latest employee count at Ecobank is 14,560.
What does Ecobank do?
Ecobank was founded in 1985 in Lome, Togo, as a commercial bank focused on financial services. Operations span multiple countries in Africa, with core activities including retail and corporate banking, loans, deposits, and payment solutions. Leadership is provided by co-CEOs Albert Essien and Ade Ayeyemi, alongside co-founder Adeyemi Lawson. The institution supports economic development through accessible banking infrastructure in the region.
Who are the top competitors of Ecobank?
Ecobank's top competitors include Scotiabank, Fidelity Bank and Orabank.
Is Ecobank publicly traded?
Yes, Ecobank is publicly traded on NSENG under the ticker symbol ETI.
How many acquisitions has Ecobank made?
Ecobank has made 2 acquisitions, including Oceanic Bank, and Oceanic Bank Nigeria.
Who are Ecobank's investors?
Ecobank has 13 investors. Key investors include Africa Finance Corporation, Afreximbank, FMO, Swedfund, and Proparco.
What is Ecobank's ticker symbol?
The ticker symbol of Ecobank is ETI on NSENG.
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